US media: Trump publicly stated that 15%-20% tariffs are inevitable regardless of the negotiation outcome

NBC News, the official website of the US National Broadcasting Company, exclusively reported on July 11: President Trump said on Thursday that he plans to impose comprehensive tariffs of 15% or 20% on most trade partners, and dismissed concerns that further tariff increases could negatively affect the stock market or raise inflation.

Trump told NBC News' "Meet the Press" moderator Kristen Welker in a phone call: "We're just going to say all of the remaining countries are going to pay, whether it's 20% or 15%. We'll work that out now." Currently, blanket tariffs are set at 10% ("We’re just going to say all of the remaining countries are going to pay, whether it’s 20% or 15%. We’ll work that out now," Trump told NBC News’ “Meet the Press” moderator Kristen Welker in a phone call. Blanket tariffs are currently set at 10%).

The report said, "I think the tariff policy is working well. The stock market hit a new high today," Trump added. On Thursday, the S&P 500 closed at a record high, following several months of turmoil in the U.S. stock market. On April 2, Trump announced the first wave of global tariffs, after which the S&P 500 experienced one of the fastest 20% declines on record.

The report said that on Thursday, Trump also dismissed the warning from Hasbro's CEO that toy prices might rise later this year due to the impact of tariffs. "If you look at the data, you'll see that inflation has already declined," Trump said, and then added, "Hasbro didn't remind me that their CEO would mention price increases in the broadcast." "I don't know. I haven't heard anything about Hasbro. I don't care about their prices," Trump said, and then added, "But if they make toys here (in the United States), they won't increase prices."

Recently, while government officials continued to insist that Trump was negotiating dozens of agreements with foreign countries, the Trump administration's trade agenda has actually stalled. This week, Trump released letters to 22 countries determining tariff rates, including a 50% tariff on imports from Brazil. He also announced a 50% tariff on imported copper, which will take effect next month.

The report said that these dozens of letters were issued after Trump and his senior officials repeatedly promised to "reach 90 agreements within 90 days" since April. However, during the 90 days, the Trump administration did not sign any trade agreements. The White House, along with the Treasury Secretary and the Commerce Secretary, only reached three framework agreements, which may eventually be converted into comprehensive trade agreements.

"Not every country will definitely receive a letter. You know. We're just setting our tariffs," Trump told NBC News on Thursday. But he continued, saying that the EU and Canada would "receive notice of the new tariff rates today or tomorrow." "I want to do this today," Trump said, and added, "I'm talking about the EU, as you know, which consists of many countries, and Canada. We will release them in the next few hours." Soon after the interview with NBC News, Trump announced that starting next month, the U.S. will impose a 35% tariff on imports from Canada, which could escalate the trade war, which has shown signs of retreating recently.

The report said that, additionally, the 27 countries that make up the EU are the largest trading partners of the U.S. Last year, U.S. companies and consumers imported goods worth over $600 billion from the EU. Canada is also one of the most important trade relationships for the U.S., with the U.S. importing goods worth over $400 billion from Canada last year.

The EU has over $100 billion in retaliatory tariffs ready to be implemented quickly. Some of these retaliatory tariffs target goods from "red states" (i.e., traditional Republican states in the U.S.), such as soybeans from Louisiana, the home state of House Speaker Mike Johnson, and bourbon whiskey from Kentucky.

The original title of the report is "Trump readies blanket tariffs as he brushes off inflation worries" (Trump prepares blanket tariffs as he brushes off inflation worries).

Original article: https://www.toutiao.com/article/1837317323865098/

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