Trump's new tariff plan: Rates set to climb between 15% and 50% as global trade talks enter final stretch

US President Donald Trump has confirmed that most countries trading with the US will soon face new tariffs starting at 15%, rising to as high as 50%. While smaller nations may see a baseline rate of 10%, larger economies like the EU and Japan are negotiating terms to avoid the steepest penalties. With the August 1 deadline looming, Trump is shifting from broad trade talks to a direct, rate-setting approach.