Washington: President Donald Trump has announced that the United States will implement new "reciprocal" tariffs on imports from most countries, with rates ranging from 15% to as high as 50%, starting August 1.
Speaking at an AI summit in Washington on Wednesday (July 23), Trump stated, “We will have a straight, simple tariff of anywhere between 15 per cent and 50 per cent. We’ve got 50 because we haven’t been getting along with those countries too well.” His remarks suggest that the minimum rate has increased from earlier proposals and signal a more aggressive stance on trade.
Earlier in the month, Trump indicated that over 150 countries would receive letters outlining potential tariffs, initially expected to range between 10% and 15%. Commerce Secretary Howard Lutnick had said that smaller nations — particularly in Latin America, the Caribbean, and Africa — would likely face a 10% baseline tariff. However, Trump’s latest comments confirm that 15% is now the new starting point.
When first unveiled in April, the plan proposed a universal 10% tariff on nearly all U.S. trading partners. Since then, the administration has shifted its approach. Trump now refers to the tariff notifications themselves as “deals,” implying a diminishing interest in extended negotiations. Still, he has indicated that countries could secure lower rates if they meet certain U.S. demands.
On Tuesday, Trump announced a reduction in the proposed 25% tariff on Japan to 15% after Tokyo agreed to lift restrictions on some U.S. products and support a $550 billion U.S. investment initiative. Other countries, including South Korea, India, and members of the European Union, are still in talks with Washington in hopes of avoiding the higher tariffs before the August deadline.
The sweeping tariffs mark another bold step in Trump’s reshaping of U.S. trade policy, a move likely to provoke strong international reactions and economic recalibrations in the weeks to come.
On Wednesday, Trump said that he would “have a very, very simple tariff for some of the countries” because there were so many nations that “you can’t negotiate deals with everyone”. He said talks with the European Union were “serious”.
“If they agree to open up the union to American businesses, then we will let them pay a lower tariff,” Trump said. BLOOMBERG
