President Trump says he plans to impose a blanket tariff of 10 to 15 percent on imports from over 150 countries. Speaking at the White House alongside Bahrain’s crown prince, Trump said notices will be sent out soon to smaller trading partners that “don’t do that much business.” The President clarified that the uniform tariff would not apply to major players, such as China and Japan, which already have separate agreements. Tariff letters have already been sent to countries, including the EU, Japan, and South Korea, with rates taking effect on August 1.
