Trump readies blanket tariffs as he brushes off inflation worries

President Donald Trump connected Thursday said that helium plans to impose blanket tariffs of 15% oregon 20% connected astir commercialized partners, dismissing concerns that further tariffs could negatively interaction the banal marketplace or drive inflation.

"We're conscionable going to accidental each of the remaining countries are going to pay, whether it's 20% oregon 15%. We'll enactment that retired now," Trump told NBC News' "Meet the Press" moderator Kristen Welker successful a telephone call. Blanket tariffs are presently acceptable astatine 10%.

"I deliberation the tariffs person been precise well-received. The banal marketplace deed a caller precocious today," the president added.

The S&P 500 closed astatine a grounds precocious Thursday, but that comes aft a tumultuous fewer months for the U.S. banal market. After Trump announced his archetypal question of planetary tariffs connected April 2, the S&P 500 experienced 1 of its fastest 20% drops connected grounds implicit the pursuing days.

The president connected Thursday besides dismissed warnings from Hasbro's CEO that artifact prices could emergence aboriginal this twelvemonth arsenic a effect of tariffs.

"If you look astatine the numbers, inflation's gone down," Trump said, aboriginal adding that helium did not person beforehand informing from Hasbro that its CEO was going to notation rising prices connected a podcast.

According to data from the U.S. Bureau of Labor Statistics, ostentation has eased successful caller years since the Covid pandemic, but remains supra 2.3%.

"I don't know. I didn't perceive thing astir Hasbro. I don't attraction astir their prices," Trump said, adding later, "But if they marque their toys here, if they made their toys here, they wouldn't person a terms increase."

Trump's commercialized docket has stalled successful caller weeks, arsenic medication officials proceed to importune that the president is moving connected dozens of agreements with overseas nations.

This week, the president publicized letters to 22 countries establishing tariff rates, including 50% tariffs on imports from Brazil. He besides announced a 50% tariff connected copper imports that's slated to instrumentality effect adjacent month.

The dozens of letters travel aft repeated promises of "90 deals successful 90 days" dating backmost to April from Trump and his apical officials. However, the medication did not ink immoderate trading deals during that 90-day period. The White House and secretaries of Treasury and Commerce alternatively reached 3 frameworks that could yet beryllium turned into full-fledged commercialized deals.

"Not everybody has to get a letter. You cognize that. We're conscionable mounting our tariffs," Trump told NBC News connected Thursday.

But, helium added that the members of the European Union and Canada would person letters notifying them of caller tariff rates "today oregon tomorrow."

"I'd similar to bash it today," Trump said, adding, "I'm talking European Union, which is, arsenic you know, galore countries, and Canada. We'll beryllium putting them retired implicit the adjacent mates of hours."The 27 nations that marque up the European Union are the United States' largest trading partner. American companies and consumers imported much than $600 cardinal worthy of goods from the E.U. past year. Canada besides ranks arsenic 1 of the astir important trading relationships for the U.S., with much than $400 cardinal worthy of Canadian goods imported into the state past year.

Speaking connected Wednesday earlier the European Parliament, the E.U.'s apical commercialized authoritative Maroš Šefčovič said negotiations were happening "every azygous day" betwixt the 2 sides to debar receiving 1 of Trump's tariff letters.

"Crucially, portion different nations faced accrued tariffs from the United States, the effect of the letters that President Trump sent retired connected Monday, our negotiations person spared the E.U. from facing higher tariffs," helium said.

The E.U. has much than $100 cardinal of retaliatory tariffs connected standby that tin beryllium rapidly implemented. Some of those retaliatory duties people goods made successful reddish states, specified arsenic soybeans from House Speaker Mike Johnson's location authorities of Louisiana and bourbon from Kentucky.

Trump besides spoke astir the presumption of Russia's warfare with Ukraine, telling NBC News, "I'm disappointed successful Russia, but we'll spot what happens implicit the adjacent mates of weeks."

"I deliberation I'll person a large connection to marque connected Russia connected Monday," helium said, declining to elaborate.

The president besides revealed the details of what helium said was a caller woody betwixt the U.S., NATO and Ukraine implicit the shipment of weapons from the U.S.

"We're sending weapons to NATO, and NATO is paying for those weapons, 100%. So what we're doing is the weapons that are going retired are going to NATO, and past NATO is going to beryllium giving those weapons [to Ukraine] and NATO is paying for those weapons," Trump said.

He added that the woody was reached during a NATO acme past month.

"We nonstop weapons to NATO, and NATO is going to reimburse the afloat outgo of those weapons," Trump said.

It was unclear if Trump was referring to an thought that has precocious been floated of immoderate NATO members perchance buying U.S.-made weapons connected behalf of Ukraine truthful that the U.S. does not person to enarthrosis the cost.

This week, Trump restarted the shipment of U.S. weapons to Ukraine aft the Defense Department had earlier this month held up a scheduled shipment of weapons to the federation astatine warfare with Russia.

The pause, ordered by Defense Secretary Pete Hegseth, appeared to drawback galore successful the Trump administration, including State Department officials, by surprise.

Asked Thursday astir that weapons pause, Trump said, "I don't cognize thing astir it." He added that Hegseth is "doing a large job."

Trump has publically expressed his disapproval with Russian President Vladimir Putin. On Wednesday, Russia unleashed a deadly onslaught and rocket attack on Kyiv, appearing defiant against Trump's warnings.

Sen. Lindsey Graham, R-S.C., has for months been pushing GOP leaders, including Trump, to determination connected a measure helium introduced that would enforce caller sanctions connected Russia. In caller days, Graham signaled that the bill now has enactment from some Trump and Senate Majority Leader John Thune, R-S.D.

Trump connected Thursday said that helium expected the Senate to walk the sanctions measure. "It's a measure that the Senate is passing that precise respectfully lets the president bash immoderate helium wants, arsenic you know," helium said.

"In different words, it's astatine my enactment if I privation to usage it. They're going to walk a precise large and precise biting sanctions bill, but it's up to the president arsenic to whether oregon not helium wants to workout it," helium added.

Trump besides spoke astir whether helium plans to question crossed the federation successful the aftermath of legislature Republicans passing a monolithic home argumentation bundle — dubbed the "One Big Beautiful Bill Act" — saying that helium would question "a small bit."

"But honestly, it's been received truthful well, I don't deliberation I person to," helium added.

Trump signed the measure into law on Independence Day aft months of negotiations betwixt the president, legislature GOP leaders and rank-and-file Republican lawmakers.

The time that the House passed the last mentation of the bill, sending it to Trump's desk, helium touted its transition during a rally successful Des Moines, Iowa, that was billed arsenic a kickoff to the solemnisation of the United States' 250th day adjacent year.

The instrumentality extends the taxation cuts passed and signed by Trump during his archetypal term, successful 2017, and imposes caller impermanent taxation cuts connected tips and overtime pay. It besides provides hundreds of billions of dollars successful caller spending for borderline information and the subject portion imposing steep cuts to Medicaid, national nutrition assistance programs and cleanable vigor funding.

Democrats, who are looking to flip the House and Senate backmost into their power during the 2026 midterm elections, person already seized connected GOP lawmakers' votes for the bill in battleground states and districts.

Trump connected Thursday dismissed concerns that Democrats could sway voters successful their favour by highlighting the package's cuts to Medicaid and different programs successful the societal information net.

"They said that astir 2024, too," helium said. "They've mislaid their minds and they've mislaid their way."

Trump's comments came arsenic Democratic National Committee Chair Ken Martin appeared connected section and nationalist quality programs crossed the state this week, telling voters that their Republican representatives "betrayed" them by voting successful favour of the bill.

"This is, arsenic I telephone it, the big, beauteous betrayal. All Republicans, each azygous 1 of them, enactment their oath to Donald Trump up of the oath to their constituents that they were elected by," Martin told PBS News Hour on Wednesday.