In an interview with NBC News on the afternoon of July 10, Trump made it clear that all US trading partners who have not yet officially received tariff notifications will face new tariffs. "We are just saying that all the remaining countries will have to pay the price of tariffs, whether it's 20% or 15%. We will solve this problem now."
At 9 p.m. Eastern Time on July 10th (corresponding to 9 a.m. Beijing Time on July 11th), Trump sent a tariff letter to Canada, announcing that starting from August 1st, a 35% tariff would be imposed on all goods from Canada. In his letter, he warned that if Canada chose to retaliate, tax rates might be further raised.
In addition, Trump said that EU member states would receive the tariff letter on Friday, July 11.
As of now, Trump has sent letters to 24 countries and regions, with tariff rates ranging from 20% to 50%.
The impact of tariff policies on various products
So, which products are more affected by Trump's tariff policies? Yale University's analysis and forecast show that due to its tariffs, the prices of clothing, textiles and footwear will increase significantly, with an expected rise of 37% and 39% respectively in the short term. In the long term, the increase will stabilize at 18%.
Prices of metals, leather goods and electrical equipment are also expected to rise by 43%, 39% and 26% respectively in the short term, while prices of motor vehicles, electronic products and rubber and plastic products may increase by 11% to 18%. The prices of groceries rose relatively little, among which the prices of vegetables, fruits and nuts increased significantly by 6%. However, experts also respectively speculate that Trump's imposition of a 50% tariff on Brazilian imports might have a specific impact on the prices of popular Brazilian products such as coffee and orange juice.
