For all latest news, follow The Financial Express Google News channel.
Republican US President Donald Trump on Monday floated the idea of universal tariffs but said the United States was not yet ready for such a step.
"We're not ready for that yet. We may put it ... because essentially countries take advantage of the US," Trump told reporters at the White House.
"Well, you put a universal tariff on anybody doing business in the United States because they're coming in and they're stealing our wealth, they're stealing our jobs, they're stealing our companies, they're hurting our companies. So you put a tariff on to keep them from doing that," Trump, who took office on Monday, added, reports Reuters.