The U.S. President has stated his intention to notify countries that their tariffs could be set at 10% or 15%
U.S. President Donald Trump has announced plans to inform over 150 nations that they may soon face new tariff rates of 10% or 15%.
Since returning to office in January, Trump has fundamentally reshaped U.S. trade policy, implementing broad tariffs to safeguard domestic industries. On April 2, his “Liberation Day” initiative introduced a universal 10% tax on nearly all imports, coupled with higher rates for goods originating from key partners including China, Mexico, Canada, and the EU. Additional duties on steel, aluminum, and vehicles have propelled average tariffs to unprecedented levels.
Speaking to reporters at the White House on Wednesday, Trump stated, “We will be sending out a payment notice to significantly more than 150 countries, and this notice will specify the forthcoming tariff rate.”
He further added that this uniform rate would apply across the group, noting that most of these countries were “not substantial” and conducted “limited trade” with the U.S.
Later on Wednesday, during an interview with the Real America’s Voice broadcaster, Trump clarified that the suggested tariff rate would “likely be 10 or 15%,” although a definitive decision had not yet been made.
This action follows a series of assertive tariff declarations by Trump, who recently issued a wave of trade warnings indicating that new duties would become effective on August 1 unless trading partners engage in negotiations for more favorable terms with Washington. Reports suggest that notices were dispatched to over 150 countries, pushing back a previous July 9 deadline by three weeks and prompting affected nations to urgently seek ways to avert the forthcoming levies.
U.S. industrial activity has experienced a deceleration since the reintroduction of extensive tariffs, with reports from the Institute for Supply Management pointing to diminished manufacturing and persistent supply chain disruptions.
According to a survey, businesses are operating in a mode of survival, opting to absorb increasing expenditures instead of transferring them to consumers. Concurrently, financial markets have progressively disregarded Trump’s strong statements, as previous tariff threats were mitigated after periods of market instability. Reportedly, internal pressure intensified from Treasury and Commerce department officials, who were apprehensive that the bond market might become unstable if the tariffs continued.