The United States will increase tariffs worldwide

According to CNN, citing US Secretary of State Marco Rubio, the United States might begin bilateral negotiations with certain countries to establish new trade agreements. However, this will only occur after the implementation of US tariffs on major trading partners.

He noted that the Trump administration would establish a new status quo, after which the US could negotiate if other countries are willing to do so.

"We will impose reciprocal tariffs on countries equivalent to those they impose on us - this isn't against Canada, this isn't against Mexico, this isn't against the European Union, it's against everyone," Rubio said.

In addition, according to the Secretary of State, the US might engage in bilateral trade negotiations that are of interest to both parties.

"Then, from this new basis of equity and reciprocity, we could eventually engage in bilateral negotiations with countries around the world on new trade agreements that make sense for both parties," he concluded.

(MH with MaSi-Source: CNN-Photo: ©Unsplash)