President Donald Trump told reporters Tuesday that he plans to place tariffs of over 10% on smaller countries, including nations in Africa and the Caribbean.

Commerce Secretary Howard Lutnick said that the tariffs would be relatively insignificant for addressing President Trump’s goals of reducing trade imbalances.

President Donald Trump returning from a trip to Pennsylvania, told reporters that he plans to put a tariff of over 10% on goods from smaller countries, including nations in the Caribbean and Africa.

President Donald Trump in recent days slapped tariffs as high as 50% on dozens of countries, restoring the type of aggressive trade policy that sent stocks plummeting a few months ago. The new round of levies prompted little more than a shrug on Wall Street.

Commodities traders are racing against time to unload as much Brazilian coffee as possible in the United States before Trump's new 50% tariff on Brazilian products is implemented on August 1, they said on Tuesday.

Donald Trump's threats of severe tariffs on Russia is leading the front pages of Tuesday's papers, with the US president pushing for Moscow to accept a deal to end the war within 50 days. The Financial Times says Trump has told Russia to expect 100% "secondary" tariffs if the Ukraine war does not end within the timeframe,