Washington: President Donald Trump has announced his intention to implement import tariffs exceeding 10 percent on a range of smaller nations, including several in Africa and the Caribbean. He also disclosed a specific agreement with Indonesia, where goods entering the United States will be subject to a 19 percent tariff.

According to TRTworld.com, Trump shared with reporters on Tuesday his strategy to potentially establish a uniform tariff rate “a little over 10%” for imports from at least 100 countries. The tariffs are anticipated to be implemented starting August 1, marking a significant shift in U.S. trade policy.

In preparation for this change, Trump has already dispatched letters to approximately two dozen countries and the European Union, detailing the new tariff rates set to be enforced next month. This move comes in the wake of a prior announcement made in April, which introduced historically high import taxes and resulted in market uncertainty.

The 90-day negotiation period, which was initiated at that time, concluded on July 9, paving the way for these new tariffs. Additionally, the president indicated that tariffs on pharmaceutical imports could be introduced by the end of the month, stating, “We’ll probably announce something there.”

Furthermore, Trump noted that tariffs on computer chips would be implemented similarly, initially starting with lower rates to encourage domestic production before gradually increasing them.