Trump Declares Intent to Hike Tariffs to 15-20%, Brushes Off Inflation Fears

In a bold move that could shake global trade, President Donald Trump announced plans on Thursday to implement a sweeping 15% to 20% tariff on nearly all trade partners. Speaking with NBC, Trump dismissed concerns that such a significant increase could trigger stock market instability or fuel inflation, asserting that the tariffs would be "welcomed."

"All remaining countries will pay, whether it's 20% or 15% tariffs," Trump stated, signaling a dramatic shift from the current 10% blanket tariff rate in the United States. He emphasized his determination to tackle the issue immediately, adding, "We will address this issue now. I believe these tariffs are welcomed. Today, the stock market reached a new high."

Trump also indicated a streamlined approach to implementing these tariffs, suggesting that formal notices wouldn't be necessary for every nation. "You know. We are just setting tariffs," he remarked.

This announcement, reported by PANews, suggests a potential return to the aggressive trade policies that characterized his previous presidency. What impact do you think these proposed tariffs could have on the global economy?