From CNN.

Hours before a midnight deadline, the White House announced its new trade policy, including its baseline tariffs for all countries. The administration said the “universal” tariff will remain at 10% — the same level implemented on April 2 — for countries the US has a trade surplus with, which is most of them. Nations with which the US has a trade deficit face a 15% floor. CNN’s Richard Quest joins Erin Burnett to discuss and explain why he thinks Trump’s tariff deals will never come to fruition. #CNN #News