US President Donald Trump flags 20 per cent tariff ‘for the world', warns Australia of tougher trade barriers
Speaking at a press conference in Scotland, Mr Trump said he was planning a new universal tariff 'for the world.'
Asked just how high it would go, he replied: 'I would say it'll be somewhere in the 15 to 20 per cent range. I just want to be nice. Probably one of those two numbers.'
Currently, most US trading partners, Australia included, face America's 10 per cent 'baseline' tariff.
In April, Mr Trump announced even higher 'reciprocal' tariffs for certain countries, but those increases were put on hold to allow negotiations on new trade agreements.
Australia was not subject to the higher 'reciprocal' rate, but Mr Trump's latest comments suggest local exporters could be affected by the proposed global hike.
'We're going to be setting a tariff for, essentially, the rest of the world,' Mr Trump told reporters.
'That's what they're going to pay if they want to do business in the United States, because you can't sit down and make 200 deals.'
Prime Minister Anthony Albanese has argued that the longstanding Australia-US free trade agreement and Australia's trade deficit with the US should exempt Australian imports from any new tariffs.
Yet American officials continue to raise concerns about 'non-tariff barriers' to doing business, including laws requiring tech firms to pay for news content and rules governing the Pharmaceutical Benefits Scheme.
In April, Mr Trump also took aim at Australia's biosecurity restrictions barring US beef imports, measures that the federal government has since agreed to lift.
Mr Trump, who has vowed to end decades of US trade deficits by imposing tariffs on nearly all trading partners, has already announced higher rates of up to 50 per cent on some countries - including Brazil - starting on Friday.
The announcements have spurred feverish negotiations by a host of countries seeking lower tariff rates including India, Pakistan, Canada and Thailand among others.
The US president on Sunday clinched a huge trade deal with the European Union that includes a 15 per cent tariff on most EU goods, $US600 billion ($A920 billion) of investments in the US by European firms and $US750 billion in energy purchases over the next three years.
That followed a $US550-billion deal with Japan last week and smaller agreements with the United Kingdom, Indonesia and Vietnam.
Other talks are ongoing, including with India, but prospects have dimmed for many more agreements before Friday - Mr Trump's deadline for deals before higher rates take effect.
Mr Trump has repeatedly said he favours straightforward tariff rates over complex negotiations.
Canadian Prime Minister Mark Carney said on Monday trade talks with the US were at an intense phase, conceding that his country was still hoping to walk away with a tariff rate below the 35 per cent announced by Mr Trump on some Canadian imports.
Mr Carney conceded this month that Canada - which sends 75 per cent of its exports to the United States - would likely have to accept some tariffs.
US and Chinese economic officials met in Stockholm on Monday for more than five hours of talks aimed at resolving longstanding economic disputes, seeking to extend a truce on tariffs by three months.
US Treasury Chief Scott Bessent was part of a negotiating team that arrived at Rosenbad, the Swedish prime minister's office in central Stockholm, in the early afternoon.
China's Vice Premier He Lifeng was also seen at the venue.
China is facing an August 12 deadline to reach a durable tariff agreement with Trump's administration, after the two governments reached preliminary deals in May and June to end weeks of escalating tit-for-tat tariffs and a cut-off of rare earth minerals.
Negotiators from the two sides were seen exiting the office about 8pm and did not stop to speak with reporters.
The discussions are expected to resume on Tuesday.
Mr Trump touched on the talks during a wide-ranging press conference with UK Prime Minister Keir Starmer in Scotland.
'I'd love to see China open up their country,' Mr Trump said.
Without an agreement, global supply chains could face renewed turmoil from US duties snapping back to triple-digit levels that would amount to a bilateral trade embargo.
Trade analysts said another 90-day extension of a tariff and export control truce struck in mid-May between China and the United States was likely.
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