The new tariff rates in the United States may be higher than before, with Trump stating a maximum of 70%.

On July 4th, Trump stated that the new tariff rates will range from 10% to 70%. Bloomberg reported that if implemented, this would be higher than the so-called "equal tariffs" rate announced by Trump in April and increase the inflation risk for the US economy. CNN noted that the 50% tariffs in April had led the US stock market into bear market territory, with US bonds and the US dollar being sold off heavily, 70% tariffs would be even higher than this level.