On Wednesday’s “Bloomberg Surveillance,” Commerce Secretary Howard Lutnick stated that he doubts big countries “can get low” reciprocal tariff rates below 15% and it will be difficult for them to do so, but small nations “have a possibility” of getting low rates.
While discussing talks with Europe, co-host Annmarie Hordern asked, “Well, can they get below 15%, or is 15% now the floor…for a reciprocal tariff for the European Union?”
Lutnick responded, “I don’t think big countries can get low like that. I think small countries have a possibility of being low, and that’s up to the president to decide. But larger countries will have a hard time…
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