President Trump said he plans to impose blanket levies of 15% to 20% on most trading partners that haven't yet received suggested tariff rates. That would be higher than the 10% baseline currently in effect.

Many economists already believe it’s a matter of time before Americans start to see sticker shock from the tariffs President Donald Trump has enacted. That timeline could speed up even more if Trump follows through with his latest package of tariff threats slated to take effect in three weeks.