10% tariffs only for 'best' countries: US commerce secretary

The United States is likely to impose tariffs of more than 10 percent on trading partners with which it has a trade deficit, Commerce Secretary Howard Lutnick said Thursday.

“The 10 percent baseline is for those countries that have (a) balanced budget with us, that are the best,” Lutnick said in an interview with CNBC, shortly after President Donald Trump unveiled a US-UK trade deal. “Those who had trade deficits are going to have a higher tariff.”