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Donald Trump announced that “reciprocal” tariffs are going to be announced for countries that didn’t reach deals with the United States.
Trump said, “We’re going to start sending letters out to various countries starting [Friday]. We’ll probably have 10 or 12 go out.”
The tariffs will range from “maybe 60 or 70% tariffs to 10 and 20% tariffs,” according to Trump.
President Trump said he’ll begin rolling out “reciprocal” tariffs Friday on countries that have yet to reach a tentative deal with his team — with the new US trade taxes hitting as high as “60 or 70%.
“We’re going to start sending letters out to various countries starting [Friday]. We’ll probably have 10 or 12 go out,” Trump told reporters after midnight as he returned from a speech at the Iowa State Fairgrounds.
“I think by the 9th [of July] they’ll be fully covered, and they will range in value from maybe 60 or 70% tariffs to 10 and 20% tariffs.”
The upper rates indicate Trump may boost some nations’ figures even higher than described in his April 2 “Liberation Day” rollout, which established a new 10% baseline tariff — roughly triple prior rates — and high duties on countries with large trade imbalances with the US.
It is not known which countries are going to get the letters.
It’s not clear yet which countries would receive the letters, but Trump has called out certain trading partners for driving too hard of a bargain, including the European Union and Japan. Trump this week threatened to send a letter to “spoiled” Japan setting its tariff rate as high as 35%. Still, that may have been a negotiating tactic, and it’s not known whether those partners will be among the countries for whom the White House will set new tariffs.