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flag US Commerce Secretary says 10% tariff on imports will stay, despite concerns over consumer costs.

flag US Commerce Secretary Howard Lutnick announced that the 10% tariff on imported goods will likely remain for the foreseeable future. flag Lutnick asserts that foreign producers, not American consumers, will bear the costs. flag However, data shows businesses are trying to pass these costs to consumers, leading to a drop in consumer confidence. flag Meanwhile, US Ambassador to Canada, Peter Hoekstra, hinted that some tariffs on Canadian imports may persist, despite improving relations.

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