The U.S. plans to impose a 10% reciprocal tariff on 100 countries, and a trade agreement is about to be announced.

Reuters: US Treasury Secretary says about 100 countries will face a 10% reciprocal tariff

Reuters, July 3 report, US Treasury Secretary Scott Bessent said on Thursday that about 100 countries may face a 10% reciprocal tariff rate and expected to announce "a series" of trade agreements before the July 9 deadline, which could lead to a sharp increase in tariffs. Bessent told Bloomberg Television: "I think we will see about 100 countries just getting a minimum of 10% reciprocal tariffs and then it will start from there." The Trump administration is negotiating tax reduction agreements with a dozen trading partners including India, Japan, and the European Union; on Wednesday, Trump announced an agreement with Vietnam, reducing US tariffs on many Vietnamese goods from 46% to 20%, while many American products will enter Vietnam duty-free.

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