Trump Proposes New Tariffs Targeting Smaller Nations

WASHINGTON (AP) — On Tuesday, President Donald Trump announced intentions to implement tariffs exceeding 10% on imports from various smaller nations, with a significant focus on countries in Africa and the Caribbean.

During his address to reporters, Trump noted, “We’ll probably set one tariff for all of them,” suggesting a uniform tariff rate that could be just above the 10% mark, affecting goods from at least 100 different countries.

Commerce Secretary Weighs In

Commerce Secretary Howard Lutnick chimed in, emphasizing that the targeted nations engage in relatively modest trade with the United States. He pointed out that these tariffs may not effectively contribute to Trump’s overall objective of reducing trade imbalances globally.

Recent Developments in Tariff Policies

Earlier this month, Trump had been dispatching letters to about two dozen countries, including members of the European Union, imposing new tariff rates that would come into effect starting August 1. The rates imposed would closely mirror those announced back on April 2, which had sparked considerable unrest in financial markets, prompting Trump to initiate a 90-day negotiation period that concluded on July 9.

Upcoming Tariffs on Pharmaceuticals and Technology

In addition to the tariffs targeting smaller nations, Trump hinted at plans to announce tariffs on pharmaceutical drugs by the end of the month. He stated that these initial tariffs would be set at a lower rate, providing companies a year to establish domestic manufacturing facilities before facing increased import tax rates. A similar approach is expected for computer chips.

The proposed tariffs signify a continuation of Trump’s aggressive trade policy and have the potential to reshape the landscape of U.S. trade relations, particularly with smaller economies in less developed regions.