U.S. President Donald Trump announced plans to impose tariffs of either 15% or 20% on most of the country's trading partners.
In a phone interview with NBC on July 10 (local time), President Trump said, "All the other countries will be paying tariffs, whether it's 15% or 20%. We are going to set that rate now." Currently, the base tariff rate is set at 10%.
Since President Trump began sending tariff letters to world leaders on July 7, his reference to "all the other countries" is interpreted as meaning those nations that have not yet received such letters.
President Trump also dismissed concerns that the additional tariffs could negatively impact the stock market or trigger inflation. He stated, "I think the tariff measures have been very well received," adding, "The stock market hit a record high today."
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