#TrumpTariffsPresident Trump threatens to impose tariffs ranging from 10% to 70% on various countries, and he has confirmed that these tariffs could take effect starting August 1, 2025😲😲.
Here are the main points:
♦️Current tariffs: During his second presidency, Donald Trump has already imposed a series of sharp tariffs on almost all imported goods to the United States. The average effective tariff rate in the United States rose from 2.5% in January 2025 to an estimated 27% in April 2025.
♦️'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, and a global tariff of 10% came 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.
♦️Deadline and escalation: The suspension period for these tariffs was set to end on July 9, 2025. Trump recently stated that tariffs could now reach 70% in some cases.
♦️Warning messages: The Trump administration plans to send messages to trading partners starting July 7, 2025 (today) warning that higher tariffs may be imposed starting August 1, 2025, if new trade deals are not reached. Trump mentioned that messages will be sent to about 10-12 countries initially.
♦️Additional threats: Trump threatened to impose an additional 10% tariff on any country allied with 'anti-American policies' of the BRICS bloc.
These steps aim to 'correct trade practices that contribute to the large and ongoing annual trade deficit of the United States in goods.' These policies have raised concerns about their impact on financial markets and global trade😇😇.