#TrumpTariffs President Trump and Tariffs đ„đ„
#TrumpTariffsPresident Trump threatens to impose tariffs ranging from 10% to 70% on various countries, and has confirmed that these tariffs could take effect starting August 1, 2025 đČđČ.
Here are the main points:
âŠïžCurrent Tariffs: As part of his second term, Donald Trump has already imposed a series of high tariffs on almost all goods imported to the United States. The average effective tariff rate in the U.S. increased from 2.5% in January 2025 to around 27% in April 2025.
âŠïž"Liberation Day" Tariffs and Reciprocal Tariffs: On April 2, 2025 (the day he called "Liberation Day"), Trump announced "reciprocal" tariffs on all countries not subject to other sanctions, with a global tariff of 10% going into effect on April 5. Additionally, higher reciprocal tariffs specific to each country were set, ranging from 11% to 50% for countries with which the United States has the largest trade deficit.
âŠïžDeadline and Escalation: The suspension period for these tariffs was scheduled to end on July 9, 2025. Trump recently stated that tariffs could now reach 70% in some cases.
âŠïžWarning Messages: The Trump administration plans to send messages to trading partners starting July 7, 2025 (today) to warn that higher tariffs could be imposed starting August 1, 2025, if new trade agreements are not reached. Trump mentioned that messages would be sent to about 10 to 12 countries at first.
âŠïžAdditional Threats: Trump has threatened to impose an additional 10% tariff on any country aligning with the "anti-American policies" of the BRICS bloc.
These measures aim to "correct trading practices that contribute to the significant and ongoing annual trade deficit of the United States in goods."