• The U.S. will unilaterally set new tariff rates for many countries in the coming weeks, signaling a sharp escalation in trade policy.
  • Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick will notify countries of specific import duties, framing the move as "very fair" but firm.
  • The decision follows recent trade deals with the U.K. and China but risks sparking broader disputes with the EU and other partners.

A New Phase in U.S. Trade Policy

President Trump confirmed during his Middle East tour that the U.S. will soon impose unilateral tariff rates on trading partners, bypassing traditional multilateral negotiations. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick are expected to issue formal notifications within weeks, detailing the duties countries must pay to access the U.S. market.

"At a certain point over the next two to three weeks, I think Scott and Howard will be sending letters out," Trump said, emphasizing the administration’s view that the approach is equitable despite its unilateral nature. The move builds on recent agreements, including a temporary tariff reduction with China, but also reintroduces friction with the EU, which has delayed but not abandoned plans for retaliatory measures.

Economic and Diplomatic Fallout

The policy leverages emergency powers under the International Emergency Economic Powers Act (IEEPA), continuing the administration’s pattern of using tariffs as both economic tools and negotiation leverage. While some domestic industries, particularly manufacturing, may benefit, import-dependent businesses warn of rising costs and supply chain disruptions.

International reaction is likely to be contentious. The EU has already drafted countermeasures, and WTO challenges could follow. Meanwhile, the U.S.-China truce remains fragile, with the 10% baseline tariff on select goods still in place. Market analysts suggest the letters could trigger volatility as trading partners assess their exposure.

What’s Next

With the letters pending, the focus shifts to implementation. Will the tariffs stick, or will they spur last-minute deals? One European trade official, speaking anonymously, called the move "provocative but predictable," adding that Brussels is "prepared to respond." For now, businesses worldwide are bracing for clarity—and potential upheaval.