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#TrumpTariffs The Trump administration has indicated that trade partners that fail to reach deals with the US will face higher tariffs, but there are big question marks around which countries will be hit and how hard.
On Sunday, Trump said he would begin sending letters to particular countries this week outlining new tariff rates, while also indicating that he had sealed a number of new trade deals.
Trump told reporters that he would send a letter or conclude a deal for “most countries”, without specifying any by name, by Wednesday
In an interview with CNN on Sunday, US Treasury Secretary Scott Bessent said countries that do not reach a deal would face higher tariffs from August 1.
Bessent disputed the suggestion that the deadline had moved and said tariffs for affected countries would “boomerang back” to the levels originally announced on April 2.
On Friday, however, Trump suggested the tariffs could go as high as 70 percent, which would be higher than the 50 percent maximum rate outlined in his “Liberation Day” plan.
Adding to the uncertainty, Trump on Sunday threatened to impose an additional 10 percent tariff on countries that aligned themselves with the “anti-American policies” of BRICS, a bloc of 10 emerging economies, including Brazil, Russia, India, China, and South Africa as the founding members.
“There will be no exceptions to this policy. Thank you for your attention to this matter!” Trump said in a post on his Truth Social platform
On Sunday, Trump said he would begin sending letters to particular countries this week outlining new tariff rates, while also indicating that he had sealed a number of new trade deals.
Trump told reporters that he would send a letter or conclude a deal for “most countries”, without specifying any by name, by Wednesday
In an interview with CNN on Sunday, US Treasury Secretary Scott Bessent said countries that do not reach a deal would face higher tariffs from August 1.
Bessent disputed the suggestion that the deadline had moved and said tariffs for affected countries would “boomerang back” to the levels originally announced on April 2.
On Friday, however, Trump suggested the tariffs could go as high as 70 percent, which would be higher than the 50 percent maximum rate outlined in his “Liberation Day” plan.
Adding to the uncertainty, Trump on Sunday threatened to impose an additional 10 percent tariff on countries that aligned themselves with the “anti-American policies” of BRICS, a bloc of 10 emerging economies, including Brazil, Russia, India, China, and South Africa as the founding members.
“There will be no exceptions to this policy. Thank you for your attention to this matter!” Trump said in a post on his Truth Social platform
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