baseline

A baseline tariff of 10% on almost all foreign imports to the US kicked in on 5 April, although some countries and goods are exempt.

That is the baseline tariff that has been levied on nearly all of America's trading partners.

The unprecedented US trade policy manoeuvre included a 10% "baseline" tariff on all imports from the UK, France and other long-standing trade partners.

But whether the industry will collectively decide on a baseline window — much less coalesce around O’Leary’s stated 45 days — is an open question, and many insiders have serious doubts.

At the start of the month, Trump announced that the U.S. would begin applying a baseline tariff of 10% on imported goods from all foreign countries.