On Friday, after the Supreme Court of the United States moved to suspend many of his sweeping import tariffs, Trump said a 10 percent global tariff would be imposed. However, on Saturday, he stated that the rate would be 15 percent.
Despite the shifting statements, official documents show that the tariff came into force at a 10 percent rate on Tuesday, with no directive issued to increase it. BBC said it had contacted the White House for comment.
Carsten Brzeski, an analyst at investment bank ING, said the rapidly changing tariff policy is creating disruption and uncertainty in the business sector. He noted that the situation has become increasingly chaotic and complex.
Speaking on the BBC’s “Today” programme, Brzeski said that in terms of uncertainty, the situation has returned to levels seen last year. He warned that the risk of retaliatory measures by US trading partners has now increased.
He added that the likelihood of a full-scale tariff or trade war is clearly higher than it was last year.
An executive order signed by Trump on Friday stated that the temporary 10 percent import tariff aims to address fundamental imbalances in international payments and to continue restructuring trade relations in the interests of American workers, farmers and manufacturers.
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