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@tbsnewsdigPresident Trump announced a new tariff rate notice without explaining in detail the range of 10% to 70% the idea of applying it from 8/1
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Trump Sets August 1 Start for Tariffs Reaching 70% on Imports
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President Donald Trump said the United States will begin collecting a new round of unilateral tariffs on imports on 1 August, with rates set between 10 percent and 70 percent. The move revives—and in some cases raises—the duties first unveiled in April before the White House paused them for a 90-day negotiating window.
Trump told reporters at Joint Base Andrews that the administration will start sending letters on 4 July to roughly 10–12 nations each day, spelling out the exact levy each partner will face. All trading partners are expected to be notified by 9 July, the deadline he previously set for concluding individual deals. The duties will be layered on top of an existing 10 percent baseline tariff.
So far the United States has announced agreements with the United Kingdom and Vietnam, the latter capping tariffs at 20 percent to 40 percent. Countries still negotiating—including the European Union, Japan and India—risk substantially higher rates; Trump said Japan could be assessed “30 percent or more” and warned that violators “will be punished.” Treasury Secretary Scott Bessent said about 100 nations could remain at the minimum 10 percent level if they reach accords quickly.
Financial markets reacted nervously. S&P 500 futures slipped about 0.6 percent in holiday-thinned trading, while Europe’s STOXX 50 index fell 0.7 percent. Investors remain on edge as they await details of which products and countries will face the steepest increases.
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