Trump Announces New Import Tariff Rates on Foreign Goods – Up to 30% Starting with 10 Countries
In a significant move impacting global trade, former U.S. President Donald Trump announced today (July 4) that the United States will begin sending formal letters to several countries, notifying them of newly revised import tariff rates on goods entering the U.S. market.
Speaking to reporters before departing for Iowa, Trump acknowledged the complexity of negotiating with over 170 countries. He revealed that the first batch of letters will be sent to 10 countries, specifying import duty rates ranging between 20% and 30%.
“We are dealing with over 170 countries. How many trade deals can you make? These are very complicated,” Trump said.
Following a trade deal recently announced with Vietnam, Trump said the U.S. is expecting to finalize a few more “comprehensive agreements” with select nations. However, for the majority of trading partners, he prefers to impose flat tariff rates rather than enter prolonged negotiations.
Trump’s statement highlights the growing challenges in achieving global free trade agreements, particularly when it comes to agricultural imports, tariff barriers, and non-tariff trade restrictions.
This development may significantly impact international exporters, supply chain logistics, and small business importers, especially those relying on low-tariff entry into the U.S. market.
