{"id":41878,"date":"2025-12-29T05:31:19","date_gmt":"2025-12-29T05:31:19","guid":{"rendered":"https:\/\/agooka.com\/news\/usa\/the-trade-war-is-de-escalating-and-settling-around-15-tariffs-bank-of-americas-ceo-says\/"},"modified":"2025-12-29T05:31:19","modified_gmt":"2025-12-29T05:31:19","slug":"the-trade-war-is-de-escalating-and-settling-around-15-tariffs-bank-of-americas-ceo-says","status":"publish","type":"post","link":"https:\/\/agooka.com\/news\/usa\/the-trade-war-is-de-escalating-and-settling-around-15-tariffs-bank-of-americas-ceo-says\/","title":{"rendered":"The trade war is de-escalating and settling around 15% tariffs, Bank of America&#8217;s CEO says"},"content":{"rendered":"<figure><img decoding=\"async\" src=\"https:\/\/i.insider.com\/6951e3c804eda4732f2e2ca4?format=jpeg\" alt=\"Brian Moynihan, Chairman and CEO of Bank of America.\"\/><figcaption>Brian Moynihan, Chairman and CEO of Bank of America<\/p>\n<p>Anna Moneymaker\/Getty Images<\/p>\n<\/figcaption><\/figure>\n<ul>\n<li>President Donald Trump&#039;s trade push is de-escalating after months of tariff turmoil, BofA CEO Brian Moynihan said.<\/li>\n<li>Tariffs are settling around 15% for many countries, bringing clearer rules for businesses.<\/li>\n<li>China and USMCA trade stand apart as special cases tied to security and policy.<\/li>\n<\/ul>\n<p>Bank of America CEO Brian Moynihan said the Trump administration&#039;s trade policy is showing signs of de-escalation after a year in which tariffs unsettled businesses.<\/p>\n<p>&quot;If you go back to where we were in April, there was a lot of lack of understanding about where this would end up, and that affected small businesses and medium-sized businesses,&quot; Moynihan said on CBS News&#039; &quot;Face the Nation,&quot; which aired Sunday.<\/p>\n<p>&quot;They were shocked,&quot; he said.<\/p>\n<p>Since returning to office, President Donald Trump has rolled out a 10% baseline tariff on imports, alongside higher rates for certain countries and product-specific duties such as those on automobiles.<\/p>\n<p>But what initially disrupted planning and purchasing decisions is now becoming clearer, Moynihan said, with Bank of America&#039;s internal outlook pointing toward a broad tariff floor.<\/p>\n<p>As negotiations progressed, Moynihan said tariffs have begun clustering around roughly 15% for many countries, with higher levels reserved for those that decline to buy US goods or ease non-tariff barriers.<\/p>\n<p>&quot;To go from a 10% across the board, to 15% for the broad base of countries, not a huge impact,&quot; Moynihan said.<\/p>\n<p>&quot;And that&#039;s where our team says it&#039;s starting to de-escalate,&quot; he added.<\/p>\n<h2><strong>&#039;China&#039;s a different question&#039;<\/strong><\/h2>\n<p>China, however, is an exception, Moynihan said.<\/p>\n<p>&quot;China&#039;s a different question, because the national security interests, the rare earth minerals, the magnets, batteries, just AI, all that stuff. It&#039;s a very different case.&quot;<\/p>\n<p>Moynihan also flagged North American trade as its own track, saying &quot;the USMCA, which has to be redone, is also a different case&quot; \u2014 a reference to the agreement&#039;s scheduled review next year.<\/p>\n<p>For smaller firms, Moynihan suggested that the current challenge hasn&#039;t just been the tariff rate itself, even as interest rates have come down over the past year.<\/p>\n<p>&quot;So they&#039;re more their issue right now is, can I get the labor I need to do, to bid the contracts, to do the work I&#039;m doing?&quot; he said, pointing to immigration policies as a source of concern.<\/p>\n<p>&quot;It&#039;s not that they agree with them or are disagreeing. They just need to have the answer, and that&#039;s what they&#039;re looking for.&quot;<\/p>\n<p>Read the original article on Business Insider<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brian Moynihan, Chairman and CEO of Bank of America Anna Moneymaker\/Getty Images President Donald Trump&#039;s trade push is de-escalating after months of tariff turmoil, BofA CEO Brian Moynihan said. Tariffs are settling around 15% for many countries, bringing clearer rules for businesses. China and USMCA trade stand apart as special cases tied to security and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":41879,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":{"0":"post-41878","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-usa"},"_links":{"self":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/posts\/41878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/comments?post=41878"}],"version-history":[{"count":0,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/posts\/41878\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/media\/41879"}],"wp:attachment":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/media?parent=41878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/categories?post=41878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/tags?post=41878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}