
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.
The highest previously announced “reciprocal” rates — pegged to a nation’s trade deficit with the US — were 49% for clothing- and shoes-manufacturing hub Cambodia, 48% for next-door Laos and 47% for the world’s top vanilla exporter, Madagascar.
Click this link for the original source of this article.
Author: Marty Kaufmann
This content is courtesy of, and owned and copyrighted by, https://www.offthepress.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.