NBC: Trump plans to impose blanket tariffs of 15% or 20%

NBC: Trump plans to impose blanket tariffs of 15% or 20%

President Trump has announced plans to impose blanket tariffs of 15% or 20% on a wide range of goods, signaling a shift in his administration's trade policy. This move comes as part of his ongoing efforts to protect American industries and jobs, a strategy that has been a central theme throughout his presidency [1].

The proposed tariffs are part of the broader America First Trade Policy, which aims to review various trade-related measures, including tariffs, to further the administration's new trade strategy. According to the International Trade and National Security team at Reed Smith, these tariffs are intended to address perceived unfair trading practices and protect domestic industries [1].

The specific details of the tariffs have not been fully disclosed, but the administration has hinted at the potential scope and impact. The tariffs are expected to target a wide range of goods, with the 15% and 20% rates applying to different categories. The exact list of goods and the specific criteria for their inclusion are still under review [1].

The announcement of these tariffs follows a series of legal challenges and rulings related to previous tariff measures. Notably, the Court of International Trade (CIT) permanently enjoined two sets of tariffs, including the "fentanyl" tariffs on Canadian-, Chinese-, and Mexican-origin goods, and the reciprocal tariffs [1]. However, these rulings have been stayed pending the outcome of the administration's appeal, allowing the tariffs to remain in effect [1].

The proposed blanket tariffs are expected to have significant implications for both domestic and international markets. For domestic industries, the tariffs could provide a competitive edge by making imported goods more expensive, thereby potentially boosting domestic production and employment. However, they could also lead to increased prices for consumers and potential retaliation from trading partners [1].

For international trading partners, the tariffs could disrupt supply chains and lead to higher costs for goods and services. This could, in turn, impact global trade dynamics and potentially lead to retaliatory measures from affected countries. The administration has indicated that it is prepared to address any such retaliation through further tariff adjustments or other trade-related measures [1].

In conclusion, President Trump's proposed blanket tariffs represent a significant shift in the administration's trade policy. While the specific details of the tariffs are still under review, the announcement highlights the administration's continued commitment to protecting American industries and jobs through trade measures. The potential impacts on domestic and international markets are significant, and the full effects of these tariffs will become clearer as the administration proceeds with its review and implementation process.

References:
[1] https://www.tradecomplianceresourcehub.com/2025/07/10/trump-2-0-tariff-tracker/