Trump eyes 10-15% tariff rates for more than 150 countries
"We’ll have well over 150 countries that we’re just going to send a notice of payment out," Trump said.
- Jul 17, 2025,
- Updated Jul 17, 2025 9:10 AM IST
In a move to further his trade agenda, President Donald Trump revealed plans to send notification letters to over 150 countries regarding new tariff rates. Trump revealed the potential levy rates could be set at ‘10 or 15 per cent’. “We haven’t decided yet," he said to reporters. This initiative aims to create uniform tariff rates for these nations, which the president referred to as "not big countries."
The letters, which serve as notices of payment, are part of a broader strategy to renegotiate trade terms. "We’ll have well over 150 countries that we’re just going to send a notice of payment out," Trump stated as mentioned in Bloomberg. These tariff rates are expected to take effect on August 1, following an extended deadline from July 9.
While Trump's strategy has been positioned as an opportunity for potential deals, the president expressed indifference towards negotiating individual agreements, referring to the notices themselves as "deals." Despite this, there remains a possibility for countries to negotiate terms that could lead to lower tariff rates.
The tariff rates, which mirror those proposed in April but postponed due to market concerns, have injected uncertainty into global financial markets. This development has particularly surprised partners like the European Union, which had anticipated progressing tentative trade agreements with the US.
Trump's stance on potential trade agreements with the EU remains non-committal. In an interview, he remarked, "We could make a deal possibly with Europe. You know, it’s, I’m very indifferent to it," suggesting a lack of urgency in finalising such agreements.
Canada faces a daunting tariff of 35 per cent on certain goods scheduled for August, prompting speculation on potential trade repercussions. However, Trump has noted that it is "too soon to say" what the outcomes might be for Canada.
This announcement is part of a series of tariff demands from Trump, aimed at compelling trading partners to negotiate more favourable terms with the United States. Initially, the administration expressed hopes of securing multiple deals, but the focus now appears to be on the tariffs themselves.
As the August 1 deadline approaches, countries are likely to engage in a hectic scramble to negotiate terms that could mitigate the impact of these new tariffs, while the global markets continue to monitor developments closely.
In a move to further his trade agenda, President Donald Trump revealed plans to send notification letters to over 150 countries regarding new tariff rates. Trump revealed the potential levy rates could be set at ‘10 or 15 per cent’. “We haven’t decided yet," he said to reporters. This initiative aims to create uniform tariff rates for these nations, which the president referred to as "not big countries."
The letters, which serve as notices of payment, are part of a broader strategy to renegotiate trade terms. "We’ll have well over 150 countries that we’re just going to send a notice of payment out," Trump stated as mentioned in Bloomberg. These tariff rates are expected to take effect on August 1, following an extended deadline from July 9.
While Trump's strategy has been positioned as an opportunity for potential deals, the president expressed indifference towards negotiating individual agreements, referring to the notices themselves as "deals." Despite this, there remains a possibility for countries to negotiate terms that could lead to lower tariff rates.
The tariff rates, which mirror those proposed in April but postponed due to market concerns, have injected uncertainty into global financial markets. This development has particularly surprised partners like the European Union, which had anticipated progressing tentative trade agreements with the US.
Trump's stance on potential trade agreements with the EU remains non-committal. In an interview, he remarked, "We could make a deal possibly with Europe. You know, it’s, I’m very indifferent to it," suggesting a lack of urgency in finalising such agreements.
Canada faces a daunting tariff of 35 per cent on certain goods scheduled for August, prompting speculation on potential trade repercussions. However, Trump has noted that it is "too soon to say" what the outcomes might be for Canada.
This announcement is part of a series of tariff demands from Trump, aimed at compelling trading partners to negotiate more favourable terms with the United States. Initially, the administration expressed hopes of securing multiple deals, but the focus now appears to be on the tariffs themselves.
As the August 1 deadline approaches, countries are likely to engage in a hectic scramble to negotiate terms that could mitigate the impact of these new tariffs, while the global markets continue to monitor developments closely.