US reciprocal tariffs could fall to 10% after talks – except for China: Citigroup chief economist

[SINGAPORE] Sky-high reciprocal tariffs may converge on the baseline rate of 10 per cent after US talks with trading partners – though not for China, which will still face higher rates, said Citigroup’s global chief economist Nathan Sheets.

He expects global trade to settle into an equilibrium, with a “pretty clear idea” of this being possible in six to 12 months.

Yet, these higher rates will likely remain even after the next US president takes office, he warned in an interview with The Business Times.