FX.co ★ US to Impose Tariffs of 15–50% as Trump Sets Harder Trade Line

President Donald Trump has indicated that the forthcoming "reciprocal" tariffs will begin at a minimum rate of 15%, increasing the baseline for new taxation measures before the August 1 deadline. During his address at an AI summit in Washington on Wednesday, he stated, "We will implement a straightforward tariff ranging from 15% to 50%," noting that the higher percentage would target countries with which the U.S. is currently experiencing less harmonious relations. These remarks signify a shift towards a more assertive tariff strategy affecting almost all U.S. trading partners, save for a few that have established trade agreements. On the previous day, Trump declared a decrease in a planned 25% tariff on Japan to 15%, following Tokyo's consent to remove barriers on U.S. goods and contribute to a $550 billion investment fund. Other nations, including South Korea, India, and members of the EU, are in ongoing negotiations to sidestep the increased tariffs. Trump stressed that discussions with the EU were "serious" and highlighted the necessity for a more streamlined tariff system due to the large number of countries involved.