Commerce Secretary Howard Lutnick says American consumers should look for 10% tariffs on imported goods for the “foreseeable future.”

Lutnick told CNN on Sunday, “We do expect a 10% baseline tariff to be in place for the foreseeable future. … But don’t buy the silly arguments that the U.S. consumer pays.”

Lutnick said the higher cost of doing business in America will be borne by foreign producers. “Businesses, their job is to try to sell to the American consumer, and domestically produced products are not going to have that tariff … so the foreigners are going to finally have to compete.”

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