Trump Announces New Tariff Rates to Be Shared with Global Partners

President Donald Trump has stated that the White House will notify various countries about updated tariff rates in the coming weeks. This follows a 90-day pause on tariffs imposed last month, during which duties were reduced to 10% across the board. Speaking at an event in the United Arab Emirates, Trump revealed that Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent will begin communicating with affected nations.
"The letters will inform countries about the tariffs they will face when doing business in the United States," Trump said, emphasizing fairness in the process. He noted that appeals may be possible but expressed confidence in the fairness of the approach.
Earlier this year, Trump announced 10% tariffs on nearly every country, with higher rates for those engaging in more trade with the U.S. However, these rates were paused a week later, except for China, which saw a temporary increase to 145% before being lowered following negotiations. The recent agreement with the UK, Trump said, "opens up a tremendous market" for American businesses.
The administration has also imposed 25% tariffs on automobiles, aluminum, and steel, with warnings of additional duties on pharmaceutical imports. Earlier this year, Canada and Mexico faced 25% tariffs due to concerns over illegal immigration and drug trafficking.
Walmart CEO Doug McMillon expressed concerns about absorbing tariff-related costs, noting that "retail margins are narrow, and we may not be able to keep prices as low as desired."

Published: 5/17/2025