Trump says 12 countries would receive tariff letters from the US on Monday
The tariff letters that US President Donald Trump has signed on exports from 12 nations are scheduled to be distributed on Monday, July 7.
The US President told reporters on Air Force One that the identities of the nations who will get the letters will only be made public on Monday.
“I signed a few letters, which will likely be sent out around twelve on Monday. He informed reporters, “Different sums of money, different amounts of tariffs.”
“The letters are superior. Sending a letter is much simpler,” Trump continued.
Trump has proposed raising the reciprocal tariffs even further, maybe to 70% for certain nations, and implementing them on August 1.
In April, the US president announced a base tax of 10% on the majority of goods that enter the US, with higher tariffs for specific nations, such as China. Later, those higher duties were halted until July 9.
The United Kingdom and Vietnam are the two nations with which Washington has signed trade deals.
On the delicate subject of trade in dairy and agricultural products, which the US is promoting, India’s high-level official delegation, headed by top negotiator Rajesh Agrawal, has returned from Washington without concluding a deal with US authorities.
There is still some chance, nevertheless, that an interim bilateral trade agreement might be completed by the July 9 deadline at the highest political level in both nations.
From June 26 to July 2, the Indian team was in Washington to negotiate a temporary trade deal with the United States.
India would not rush into negotiating a free trade pact under pressure from any deadline, according to Commerce Minister Piyush Goyal.
Minister Goyal emphasized that India is prepared to enter into trade agreements in the benefit of the country, but that it “never negotiates trade deals with a deadline” while speaking on the fringes of an event in the nation’s capital.
A significant obstacle is the US’s desire for more market access for its dairy and agricultural products; in India, this is a sensitive topic since it affects small farmers’ livelihoods.
In addition to negotiating a temporary agreement before July 9 to obtain an exemption from President Trump’s 26% tariffs, India is also attempting to obtain substantial duty breaks for its labor-intensive exports, including textiles, leather goods, and footwear.