U.S. President Donald Trump recently announced his intention to send the first batch of tariff letters to multiple countries, just days before his deadline for reaching trade agreements approaches.
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Trump indicated that he would dispatch as many as 15 letters, cautioning that if countries do not secure agreements, U.S. tariffs on imports would revert to the elevated levels he introduced in April. “We are at a critical juncture; negotiations must yield results,” he noted.
Treasury Secretary Scott Bessent shared insights, stating that the tariffs would not take effect until August 1st, providing some additional leeway for negotiations in a climate that has introduced a measure of uncertainty into global markets. “This timeline gives us the opportunity to work things out,” he remarked.
In his announcement via Truth Social, Trump stated, “I am pleased to reveal that the UNITED STATES TARIFF Letters and potential agreements will be delivered starting at 12:00 P.M. (Eastern), Monday, July 7th.”
April 2 marked what Trump described as “Liberation Day,” a day when he announced extensive tariffs, imposing a 10% duty on imports from nearly all trading partners. Certain countries, particularly within the European Union, were set to face even greater tariffs.
As markets were on a downward trajectory, Trump temporarily suspended the tariffs for 90 days to facilitate talks, a deadline that is now fast approaching. However, the results have thus far been limited; agreements have only been reached with the United Kingdom and Vietnam, while discussions with China have led to a temporary reduction of exceptionally high tariffs on each other’s products.
As he boarded Air Force One, Trump commented, “It could be 12, could be 15 letters sent out today.” He expressed optimism, stating, “I think we’ll have most countries finalized by July 9—either a letter or a deal.” Some arrangements, he assured, have already been established.
Standing alongside him, U.S. Commerce Secretary Howard Lutnick emphasized that tariffs would indeed begin on August 1st, but refuted any notion that this was a ploy to extend deadlines. “The President is currently defining the rates and agreements,” he affirmed.
Bessent echoed these sentiments, clarifying, “This is not a new deadline; it’s simply a statement of when implementation will occur. If there’s a desire to expedite, that’s entirely in your hands. Reverting to previous rates is also an option.” He added that the strategy is focused on applying “maximum pressure,” citing the positive developments with the European Union, which he noted is “making very good progress” following a slow start.
Earlier, Bessent hinted at “several significant announcements” regarding impending agreements, though he refrained from specifying countries involved. Meanwhile, EU and U.S. negotiators are scheduled for discussions this weekend, with France’s finance minister expressing hope for a favorable outcome.
Concerns from other nations persist. Japan’s Prime Minister Shigeru Ishiba recently stated his unwillingness to compromise easily in trade talks with the U.S. Meanwhile, leaders from BRICS nations, convening in Rio de Janeiro, highlighted their “serious concerns” regarding the legality of what they described as “indiscriminate” import tariffs, warning they could adversely affect global trade.
In response, Trump issued a firm warning: “Any country aligning itself with the anti-American policies of BRICS will incur an ADDITIONAL 10% tariff. There will be no exceptions to this policy,” he stated.
Edited By Ali Musa
Axadle Times International – Monitoring.
