{"id":13791,"date":"2025-07-04T18:43:00","date_gmt":"2025-07-04T15:43:00","guid":{"rendered":"https:\/\/mongolianews.mn\/?p=13791"},"modified":"2025-07-04T18:43:00","modified_gmt":"2025-07-04T15:43:00","slug":"trump-to-reinstate-sweeping-tariffs","status":"publish","type":"post","link":"https:\/\/mongolianews.mn\/?p=13791","title":{"rendered":"Trump to reinstate sweeping tariffs"},"content":{"rendered":"

Tariffs of up to 70% could hit dozens of countries as the deadline for trade deals approaches, the US president has said<\/strong><\/p>\n

US President Donald Trump has said his administration will begin notifying trading partners of new tariffs on their exports, as he prepares to reinstate tariffs that were paused for trade talks, which are set to expire next week.<\/p>\n

Since returning to office in January, Trump has launched a tariff campaign aimed at protecting US manufacturers. The campaign culminated on April 2 with a set of measures on what he called \u2018Liberation Day\u2019, including a blanket 10% tariff on all imports and steeper rates for goods from China, Mexico, Canada, and the EU. Some of the tariffs were paused for 90 days to allow negotiations, which are now due to end on July 9.<\/p>\n

Speaking to reporters early Friday, Trump said \u201c10 or 12\u201d<\/em> notification letters would be sent that day, with more to follow \u201cover the next few days.\u201d<\/em>
<\/em><\/p>\n

\u201cBy the ninth they\u2019ll be fully covered,\u201d<\/em> he said, referring to the deadline for countries to reach deals and avoid higher import tariffs. \u201cThey\u2019ll range in value from maybe 60% or 70% tariffs to 10% and 20% tariffs.\u201d<\/em>\u00a0<\/p>\n

Trump said smaller countries would be notified later, with tariffs taking effect from August 1. \u201cIt\u2019s a lot of money for the country, but we\u2019re giving them a bargain,\u201d<\/em> he added, without naming specific countries or sectors. Earlier this week, he ruled out extending talks.<\/p>\n

The US has so far reached agreements with the UK and Vietnam, and declared a truce with China after previous tariffs sparked a trade war that shook global markets.<\/p>\n

Treasury Secretary Scott Bessent said on Thursday that Washington was close to a high-level framework deal with the EU that could avert 50% tariffs on the bloc\u2019s exports next week.<\/p>\n

Trump has long accused the EU of unfair trade practices, arguing that the bloc\u2019s regulatory framework fuels the transatlantic trade imbalance. EU trade ministers have criticized the UK-US deal \u2013 which keeps a 10% baseline tariff on British exports while easing tariffs on steel and cars \u2013 and warned of possible retaliation unless the bloc secures better terms.<\/p>\n

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\n READ MORE: <\/span>US extends tariff exemptions on certain Chinese imports
\n <\/a>\n <\/p>\n

Bessent said around 100 countries could face a minimum 10% rate, though further deals are likely. \u201cI think we\u2019re going to see a lot of action over the coming days,\u201d<\/em> he told Bloomberg.<\/p>\n

The Organization for Economic Co-operation and Development (OECD) warned this week that the tariffs could disrupt global supply chains and drag growth down to 2.9% through 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tariffs of up to 70% could hit dozens of countries as the deadline for trade deals approaches, the US president has said US President Donald Trump has said his administration…<\/p>\n","protected":false},"author":1,"featured_media":13792,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[],"class_list":["post-13791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t