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Trump teases new tariff rates

10 10
17.05.2025
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Business & Economy

Business & Economy

 

The Big Story

Trump teases new tariff rates

President Trump said administration officials are likely to begin informing dozens of countries in the coming weeks of the tariff rate they will have to pay after a 90-day pause.

© AP Photo/Alex Brandon

Trump, speaking at a roundtable in the United Arab Emirates on Friday, acknowledged there was not enough time to meet with every country that the U.S. had hit with tariffs in early April.

He said Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick would begin outreach to those nations soon.

“So at a certain point over the next two to three weeks, I think Scott and Howard will be sending letters out essentially telling people — and we’ll be very fair — but we’ll be telling people what they will be paying to do business in the United States,” Trump said.

“I guess you could say they could appeal it, but for the most part I think we’re going to be very fair,” he added. “But it’s not possible to meet the number of people that want to see us.”

The president on April 2 levied a 10 percent tariff on all imports and higher additional tariffs on dozens of countries that had larger trade imbalances with the U.S.

The higher rates hit major economies like South Korea, Japan, the European Union, China and Thailand, as well as smaller nations like Lesotho, Laos, Botswana and Fiji.

The president later announced a 90-day pause on those higher tariffs, while the 10 percent baseline import tax remained in place. The pause is set to end in early July.

The Hill's Brett Samuels has more here.

 

Welcome to The Hill’s Business & Economy newsletter, I'm Julia Shapero — covering the intersection of Wall Street and Pennsylvania Avenue.

 

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