Trump Threatens 15-20% Tariffs Amid Global Trade Deal Negotiations

President Donald Trump has issued a stern warning that countries without finalized trade agreements with the United States by the August 1 deadline will face sweeping tariffs estimated between 15% and 20%. This marks an escalation from the previously announced 10% baseline tariff, with some nations already facing tariffs as high as 40% to 50%. Despite ongoing negotiations with countries like India, the European Union, and others, officials express concern that the deadline may be missed, potentially triggering the new tariffs. Trump has also praised recent deals with Japan, Indonesia, the Philippines, and the EU, which maintain substantial tariffs generating significant revenue for the U.S. Treasury, though critics warn these costs will be passed on to American consumers. Meanwhile, economic analysts highlight that these tariff policies are dampening investment and slowing U.S. economic growth by disrupting supply chains and causing businesses to cut margins and delay spending.