US President Donald Trump has announced plans to inform more than 150 countries of potential new tariffs, with rates ranging from 10% to 15%. This follows his broader trade policy overhaul since taking office, which has already imposed some of the highest average tariffs in US history. In a recent statement, Trump indicated that tariffs would be set at 10% to 15%, though a final decision has not yet been made.
The move follows a series of aggressive tariff announcements by Trump, who has launched a wave of trade threats warning that new duties will take effect on August 1 unless trade partners negotiate improved terms with Washington. Notices were reportedly sent to more than 150 countries, extending a prior July 9 deadline by three weeks and setting off a scramble among affected nations to avoid the impending levies.
US industrial activity has slowed since the reinstatement of sweeping tariffs, and reports from the Institute for Supply Management have cited weaker manufacturing and recurring supply chain bottlenecks. According to a survey, companies are in survival mode, absorbing rising costs rather than passing them on. Meanwhile, markets have increasingly discounted Trump’s tough rhetoric after past tariff threats were softened following market volatility. Internal pressure reportedly grew from Treasury and Commerce officials, concerned that the bond market could destabilize if tariffs persisted.
The proposal has drawn criticism from various sectors, including the business community and international allies, who argue that the tariff hikes could lead to retaliatory measures and disrupt global trade flows. Analysts warn that the continued imposition of steep tariffs may harm American consumers and businesses, further complicating an already fragile economic landscape.
As the deadline approaches, the administration faces mounting pressure to balance its domestic economic priorities with the potential fallout of its trade policies. The situation remains highly uncertain, with the final decision on the specific tariff rates and implementation dates still pending.