Donald Trump intends to implement tariffs exceeding 10% on goods from approximately 100 smaller countries, primarily in Africa and the Caribbean. These tariffs aim to address trade imbalances but target nations with low trade volumes with the U.S. and thus may not have a significant impact. Trump announced this policy after sending letters to multiple countries, establishing a general tariff rate effective from August 1. He also mentioned potential tariffs on pharmaceutical drugs and similar tariffs for computer chips, offering domestic companies a year to adjust before facing higher rates.
President Trump announced a plan to impose tariffs over 10% on goods from at least 100 nations, mainly targeting smaller countries in Africa and the Caribbean.
Commerce Secretary Howard Lutnick indicated that the nations affected are those with modest levels of trade with the U.S., making them relatively insignificant for reducing trade imbalances.
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