President Donald Trump revealed plans Tuesday to impose tariffs exceeding 10% on goods from smaller nations, including countries in Africa and the Caribbean, as part of his aggressive trade strategy.

“We’re looking at one tariff for all these countries, probably a little over 10%,” Trump told reporters, indicating the policy could affect at least 100 nations. Commerce Secretary Howard Lutnick clarified that the targeted nations, primarily in Africa and the Caribbean, conduct limited trade with the US, making them less critical to Trump’s broader goal of correcting global trade imbalances.

This month, Trump sent letters to approximately two dozen countries and the European Union, notifying them of tariff rates effective August 1. These rates align closely with those announced on April 2, which triggered market turmoil due to their unprecedented scale. A 90-day negotiation period, ending July 9, failed to avert the implementation of these import taxes.

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Trump also hinted at upcoming tariffs on pharmaceutical drugs, to be detailed by month’s end. He outlined a phased approach for certain industries, starting with lower tariffs and granting companies a one-year grace period to establish US-based manufacturing before facing steeper rates. Computer chips, Trump noted, would follow a similar tariff structure.

The announcement has raised concerns about economic ripple effects, with analysts warning of potential disruptions in global markets and supply chains.

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