Trump Plans to Impose Over 10 Percent Tariffs on Smaller Nations
(MENAFN) U.S. President Donald Trump revealed Tuesday his intention to impose tariffs exceeding 10 percent on goods imported from smaller countries, including many in Africa and the Caribbean.
Addressing reporters at Joint Base Andrews in Maryland, Trump explained, "We'll probably set one tariff for all of them." He indicated the levy could be "a little over 10 percent tariff" on products from at least 100 nations, as reported by media.
Earlier the same day, Trump announced a trade agreement with Indonesia. The pact mandates a 19 percent tariff on Indonesian exports to the U.S., while American goods entering Indonesia will face no tariff or non-tariff barriers.
In recent communications, the president sent letters to various countries, including key U.S. trading partners, signaling tariff hikes ranging between 20 and 50 percent set to begin on August 1.
Trump also mentioned he would "probably" unveil tariffs on pharmaceutical drugs by the "end of the month."
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