President Donald Trump has announced a bold new tariff strategy, targeting dozens of countries with duties ranging from 10% to a staggering 70%. These tariffs, set to take effect on August 1, mark a significant increase from the previously proposed 50% cap during the 'Día de la Liberación' in April.

Duties on imports from dozens of countries would jump if the 90-day pause imposed in April expires July 9 as scheduled.

President Donald Trump said early Friday his administration is resuming a broad set of tariffs on dozens of countries after a 90-day pause, as trade negotiations with many of those nations have failed to yield new deals.