US to Impose Uniform Tariff Rate On Over 150 Economies: Trump
WASHINGTON, July 17 (Bernama-Xinhua) -- United States (US) President Donald Trump on Wednesday unveiled a plan to impose a unified tariff rate on more than 150 countries and regions, Xinhua reported, citing a report by Politico.
"It's all going to be the same for everyone, for that group," Trump told reporters during talks with Bahrain's Crown Prince Salman bin Hamad Al Khalifa at the White House.
Those to be covered under the new measure are described by Trump as "not big," and ones that "don't do that much business."
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In April, the Trump administration introduced a baseline tariff of 10 per cent on economies not covered by bilateral deals. Although Trump has previously suggested the new baseline could be raised to 15 per cent or 20 per cent, he did not specify a new rate on Wednesday.
The US government has already sent letters to about two dozen economies -- including the European Union, Japan, and South Korea -- outlining the tariff rates they will face starting Aug 1, the report said. The announcement has prompted intensified negotiations as affected trading partners seek more favourable terms.
However, analysts and observers continue to express doubts about whether the new tariff schedule will take effect as planned on Aug 1, amid concerns about its potential impact on the US economy and domestic politics, according to the report.
Countries and regions such as Switzerland and India, which accounted for more than three per cent of the US trade deficit in 2024 but have not yet received official notices, remain in negotiation with Washington.
Trump sent mixed messages Wednesday on US-India trade talks, first stating "we have another (deal) coming up," then later asserting "we're very close to a deal."
Regarding Japan, Trump said negotiations are underway but expressed doubt about the outcome.
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