U.S. to impose import duties on 150 countries

U.S. President Donald Trump said he would be sending letters to over 150 countries as he plans a barrage of duties to take effect August 1, including levies on pharmaceutical imports and semiconductors.

"We're just going to send a notice of payment out, and the notice of payment is going to say what the tariff" rate will be, Trump said.

The U.S. President revealed the potential levy rates could be set at ‘10 or 15%’.

"We haven’t decided yet. It’s all going to be the same for everyone, for that group," Trump said.

Earlier, Trump said drug and chip levies would come in August, putting them on track to be implemented alongside the paused "reciprocal" tariffs laid out in April, as well as planned tariffs on copper imports.

The latest moves come as Trump has already sent letters to over 20 trade partners outlining tariffs on goods imported from their countries. The letters set new baseline tariff levels at 20% to 40% - except for a 50% levy on goods from Brazil.

Last week, Trump announced a 35% tariff on Canadian goods and followed that up with promises of 30% duties on Mexico and the EU.