Lutnick says 10% tariffs here to stay, but insists consumers won't pay for it

[BumRushDaShow]

Source: Axios

3 hours ago


Baseline global tariffs of 10% are likely to stay, Commerce Secretary Howard Lutnick said Sunday — but he insisted countries and businesses, and not consumers, would pay.

Why it matters: Economists generally disagree, and sentiment surveys say consumers don't believe it, either.

What they're saying: "We do expect a 10% baseline tariff to be in place for the foreseeable future — but don't buy the silly arguments that the U.S. consumer pays," Lutnick said on CNN's "State of the Union" on Sunday.

"Businesses, their job is to try to sell to the American consumer, and domestically produced products are not going to have that tariff, so the foreigners are going to finally have to compete."

Zoom out: President Trump set a global 10% baseline tariff on April 2, with some countries subject to higher "reciprocal tariffs." Those higher levies were later mostly suspended, but the baseline stayed in place.

The trade deal the U.S. agreed with Great Britain this past week included that 10% levy, despite lowering other barriers.

"We will not go below 10%, that is just not a place we're going to go," Lutnick said.

Read more: https://www.axios.com/2025/05/11/trump-trade-war-lutnick-tariffs

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What a dumbass. Consumers are ALREADY paying for it - at least for any product that is actually available at this point because the ship, plane, and truck traffic with product, has trickled to a near halt.