Trump Imposes New Tariffs, Signals Openness to Deals Amid Trade Deadline
The United States implemented a new wave of tariffs on imports Thursday night, with former President Donald Trump asserting the measures were proceeding “very well, very smooth” in a phone interview with NBC News. Despite a self-imposed deadline for trade agreements, Trump indicated a willingness to consider future offers, even as rates for several nations were formalized in a new executive order.
Tariff Rates Take Effect August 7
The executive order, issued Thursday, solidifies agreements reached with key trading partners including the European Union, Japan, South Korea, the United Kingdom, and the Philippines. However, for countries that did not reach agreements, the former President unilaterally set tariff rates set to take effect on August 7. These rates vary significantly; for instance, Switzerland will face a 39% tariff, while Taiwan will be subject to a 20% rate.
Trump highlighted the revenue already generated from the tariffs, reporting $26 billion in June according to Treasury Department figures. He confidently predicted a substantial increase in revenue, stating, “We will be taking in hundreds of billions of dollars, and very quickly.”
Concerns Over Price Spikes Dismissed
When questioned about potential price increases for imported goods, Trump dismissed the concern, asserting, “The only price that’s spiked is the hundreds of billions of dollars coming in.” This statement underscores the former President’s focus on the financial benefits of the tariffs, rather than potential economic consequences for consumers.
Canada and Brazil Remain Points of Contention
The former President indicated openness to further discussions with Canada, suggesting a potential conversation with Prime Minister Mark Carney later Thursday night, but ruled out a new deal before the deadline. He also revealed he was unaware of recent comments made by Brazilian President Luiz Inácio Lula da Silva, who reportedly signaled Brazil’s willingness to challenge the U.S. tariff program. Trump responded to this news with a dismissive attitude, stating, “That’s OK. But he doesn’t have to do business with the United States, which is fine with me.”
Focus Shifts to Humanitarian Crisis in Gaza
Beyond trade, the conversation also touched upon the ongoing humanitarian crisis in Gaza. A senior White House official shared that Trump has been “troubled” by images of starving children in the region. The former President expressed a commitment to increased involvement, stating, “We can save a lot of people,” and referencing “real starvation stuff” that “you can’t fake.” He announced an upcoming trip by special envoy Steve Witkoff and U.S. Ambassador to Israel Mike Huckabee to the Gaza Strip on Friday, with the aim of assessing the situation and ensuring aid reaches those in need.
Aid Delivery and Concerns About Hamas
Trump addressed concerns about the administration of U.S. aid in Gaza, stating that Israeli Prime Minister Benjamin Netanyahu is “certainly a competent person.” However, he also voiced concerns about the potential for Hamas to divert aid, emphasizing the importance of “good management” to prevent such occurrences. He expressed hope that “the Israelis will provide that.”
The former President’s actions and statements signal a continued commitment to a protectionist trade policy, coupled with a renewed focus on humanitarian concerns in the Middle East.
