Trump Announces Tariff Blitz on 200 Countries, Considering Rebate Checks for Americans

President Trump plans to impose tariffs on nearly 200 countries that haven't reached a trade agreement with the US. Tariff rates will be either 10% or 15%, and Trump is considering providing Americans with rebate checks from the tariff revenue. Trump also mentioned that the US is nearing trade deals with key partners, including the UK, EU, and China, but has had limited progress with Canada.

President Donald Trump has announced plans to impose tariffs on nearly 200 countries that have not reached a trade agreement with the United States. The tariff rates will be either 10% or 15%, with the possibility of higher rates for countries that do not comply. Trump has also suggested that he may provide Americans with rebate checks from the tariff revenue [1].

The tariffs are part of Trump's ongoing effort to impose duties on nearly every US trading partner. He has stated that the floor for the increased levies is rising, with a minimum of 15% and a maximum of 50% [1]. Trump has mentioned that he is considering sending rebate checks to Americans from the tariff revenues earned by the United States. The administration is also exploring the possibility of reducing the US debt [2].

The White House has discussed potential trade deals with key partners, including the UK, EU, and China. However, progress has been limited with Canada. Trump has stated that there is a 50-50 chance of a trade agreement with the European Union [2].

Volkswagen, a German car manufacturer, has reported that Trump's US import tariffs have cost it more than £1bn in the first half of the year. The company has suffered a €1.3bn (£1.13bn) decline in operating result due to high costs from increased US import tariffs [2].

The US government has earned over $90 billion from customs duties during the first half of 2025, with most of it accruing in the second quarter. Trump announced the "Liberation Day" tariffs on April 2 [2].

U.S. equities surged in Friday morning trade, with the SPDR S&P 500 ETF (SPY) up 0.17% and the Invesco QQQ Trust (QQQ) rising 0.16% [2].

References:
[1] https://www.bloomberg.com/news/articles/2025-07-23/trump-says-countries-will-face-tariffs-ranging-from-15-to-50
[2] https://stocktwits.com/news-articles/markets/equity/trump-considers-rebate-checks-for-americans-from-tariff-revenues/chob32YR5wJ