Summary
- "President Donald Trump announced that he will impose new tariffs of up to 70% starting August 1."
- "The initial targets for the tariffs are 10 to 12 countries, with tariff rates set to vary between 10% and 70%."
- "President Trump reportedly did not specify which countries would be subject to which tariff rates."
Donald Trump, the President of the United States, announced that he will impose large-scale new tariffs on exports from U.S. trading partners starting August 1.
According to the New York Post on the 4th (local time), Trump told reporters, “Starting from the 4th, we will send tariff notifications to 10 to 12 countries first, and additional notifications will also be sent in the coming days,” adding, “From August 1, each country will have to pay tariffs that will range from 60–70% down to 10–20%.”
It has been determined that the maximum tariff rate is set at 70%, which is higher than the 50% announced during the reciprocal tariffs proposal in early April. However, Trump did not specifically mention what level of tariffs would be applied to which countries.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
