Trump Plans to Raise Blanket Tariffs From 10% to 15%-20%, EU Members to Receive Letters

President Donald Trump has announced plans to increase blanket tariffs on most U.S. trading partners to between 15% and 20%, up from the current baseline of 10%. This move represents a significant escalation in his global trade policy. Trump indicated that he intends to send letters to European Union members within the next few hours to notify them of the tariff adjustments. Despite concerns about potential negative impacts on the stock market and inflation, Trump dismissed these worries, emphasizing his commitment to the tariff increases. The proposed tariffs would apply broadly to most countries that have not yet received tariff notifications.