Trump readies blanket tariffs as he brushes off inflation worries

In a wide-ranging interview with NBC News, Trump talked about tariffs, sending Patriot missiles to NATO for Ukraine and how he'll sell his "big, beautiful bill."

President Donald Trump said Thursday he plans to impose blanket tariffs of 15% or 20% on most trade partners, dismissing concerns that further tariffs could negatively affect the stock market or drive 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’ “Meet the Press” moderator Kristen Welker in a phone call. Blanket tariffs are currently set at 10%.

“I think the tariffs have been very well received. The stock market hit a new high today,” Trump added.

The S&P 500 closed at a record high Thursday, but that comes after a tumultuous few months for the U.S. stock market. After Trump announced his first wave of global tariffs on April 2, the S&P 500 experienced one of its fastest 20% drops on record over the following days.

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