Back to today’s briefing

Story perspectives

US Proposes 10% Tariff Amid $1.8 Trillion Deficit

5/18/2025

46 9

Summary

Story summary

US Treasury Secretary Scott Bessent emphasized the importance of tariffs in correcting global economic disparities, proposing a 10% tariff on European imports. With a staggering $1.8 trillion budget deficit, the US, EU, and China must alter their economic practices. This scenario raises geopolitical tensions, especially concerning America's dependence on China for essential resources.

1 of 1

Story summary

US Treasury Secretary Scott Bessent emphasized the importance of tariffs in correcting global economic disparities, proposing a 10% tariff on European imports. With a staggering $1.8 trillion budget deficit, the US, EU, and China must alter their economic practices. This scenario raises geopolitical tensions, especially concerning America's dependence on China for essential resources.