Trump Administration Threatens 15%-20% Blanket Tariffs On Most Trading Partners 

The Trump administration continues to lob threats of higher tariffs at global trading partners, with the president telling NBC News that most countries will likely see a 15%-20% blanket tariff rate looking ahead, up from the current 10% blanket tariff on goods entering the U.S.

Separately, he warned of 35% levies on Canada effective August 1, saying the higher charge on the U.S.’s northern neighbor was due to that country’s retaliatory tariffs on the U.S., and that the level could be reduced if Canada steps up its efforts to curb fentanyl flow across its southern border. Most imports from Canada are currently under a 25% tariff in the U.S.—excluding beverage alcohol, which along with other goods has been exempted under the USMCA trade agreement.

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