Serdar Dincel
11 July 2025•Update: 11 July 2025
ISTANBUL
US President Donald Trump announced plans Thursday to impose blanket tariffs of 15% to 20% on most trading partners, downplaying concerns that additional tariffs could harm the stock market or fuel inflation.
“We’re just going to say all of the remaining countries are going to pay, whether it’s 20% or 15%. We’ll work that out now,” Trump told NBC News.
Blanket tariffs are currently set at 10%.
“I think the tariffs have been very well-received. The stock market hit a new high today,” he said.
The S&P 500 closed at a record high Thursday, but this follows a volatile period for the US stock market. After Trump announced his initial round of global tariffs on April 2, the S&P 500 suffered one of its fastest 20% drops on record in the days that followed.
Trump on Thursday also dismissed concerns from Hasbro CEO Chris Cocks, who earlier told CNN in a podcast that toy prices in the US could increase later this year, especially if higher tariffs are implemented.
“If you look at the numbers, inflation’s gone down,” Trump noted, saying he had not been given any prior notice by Hasbro that its CEO would discuss rising prices on a podcast.
“I don’t know. I didn’t hear anything about Hasbro. I don’t care about their prices,” he said, adding later: “But if they make their toys here, if they made their toys here, they wouldn’t have a price increase.”
Also speaking on the Russia-Ukraine war, Trump said: “I’m disappointed in Russia, but we’ll see what happens over the next couple of weeks.”
“I think I’ll have a major statement to make on Russia on Monday,” he added, without elaborating.
Trump also shared details of what he described as a new agreement between the US, NATO and Ukraine concerning the delivery of weapons.
“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 out are going to NATO, and then NATO is going to be giving those weapons (to Ukraine) and NATO is paying for those weapons,” he noted.
Stressing that the agreement was reached during last month's NATO summit, Trump said: “We send weapons to NATO, and NATO is going to reimburse the full cost of those weapons."
It was not immediately clear whether Trump was referencing a recently proposed idea in which some NATO members might purchase US-made weapons for Ukraine, allowing Washington to avoid bearing the financial burden.
Trump resumed US weapons shipments to Ukraine this week after the Defense Department had delayed a scheduled delivery earlier this month to the country, which remains at war with Russia.
The pause—ordered by Defense Secretary Pete Hegseth—reportedly surprised many within the Trump administration, including officials at the State Department.
Asked about the delay on Thursday, Trump said: “I don’t know anything about it,” but added that Hegseth is “doing a great job.”
Republican Sen. Lindsey Graham has urged Republican leaders, including Trump, to advance a bill he introduced that would impose new sanctions on Russia.
Recently, Graham indicated that the measure now has the backing of both Trump and Senate Republican Majority Leader John Thune.
On Thursday, Trump said he expected the Senate to approve the sanctions bill.
“It’s a bill that the Senate is passing that very respectfully lets the president do whatever he wants, as you know.
“In other words, it’s at my option if I want to use it. They’re going to pass a very major and very biting sanctions bill, but it’s up to the president as to whether or not he wants to exercise it,” he added.
