Trump Says '20% or 15%' Blanket Tariff Rate Coming for Most Countries
The U.S. will increase blanket reciprocal tariff rates for countries that haven’t received a tariff letter to 15% or 20%, President Donald Trump said in a phone interview with NBC News July 10, the broadcast news outlet reported.
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“We’re just going to say all of the remaining countries are going to pay, whether it’s 20% or 15%. We’ll work that out now,” Trump said.
Up to now, Trump has released letters setting Aug. 1 country-specific reciprocal tariff rates for Japan (25%), South Korea (25%), Thailand (36%), Malaysia (25%), Brazil (50%), Indonesia (32%), South Africa (30%), the Philippines (20%), Cambodia (36%), Bangladesh (35%), Iraq (30%), Sri Lanka (30%), Algeria (30%), Kazakhstan (25%), Libya (30%), Tunisia (25%), Serbia (35%), Laos (40%), Myanmar (40%), Brunei (25%), Bosnia and Herzegovina (30%) and Moldova (25%).
Trump indicated in his NBC News interview that a letter setting tariffs on the EU is imminent. A letter sent July 10 set a 35% tariff on Canada, though it's unclear whether that letter refers to reciprocal tariffs -- from which Canada is currently exempt -- or an increase in tariffs on the country meant to address fentanyl trafficking.