Donald Trump says ‘first tariff letters' to be sent at 9.30 PM IST today
'I am pleased to announce that the UNITED STATES TARIFF Letters, and/or Deals, with various Countries from around the World, will be delivered starting 12:00 P.M. (Eastern), Monday, July 7th,' Trump said on his Truth Social network Sunday.
So far, Washington has finalized deals only with the United Kingdom and Vietnam, while reaching a temporary agreement with China to reduce exceptionally high tariffs on each other's goods.
Trump said he planned to send '12, maybe 15' tariff notification letters on Monday, PTI reported.
He added, 'I think we'll have most countries done by July 9, either a letter or a deal,' noting that some agreements had already been reached.
US Commerce Secretary Howard Lutnick confirmed that the new tariffs would take effect on August 1 but rejected the notion that the date was a delay tactic, AFP reported.
Also Read: Donald Trump's tariff letters to hit 12 countries as trade deadline chaos looms
'The President is setting the rates and the deals right now,' Lutnick said.
Senior advisor Bessent also dismissed suggestions that August 1 marked a new deadline. 'It's not a new deadline. We are saying this is when it's happening. If you want to speed things up, go ahead. If you want to stick with the old rates, that's your decision,' he explained, as reported by AFP.
Bessent noted that the strategy was to apply 'maximum pressure,' citing the European Union as an example of a negotiating partner now making significant progress after initial reluctance.
Still, unease persisted among several countries. Japan's Prime Minister Shigeru Ishiba stated on Sunday that he 'won't easily compromise' in trade talks with Washington.
Meanwhile, BRICS leaders representing fast-growing economies such as Brazil, Russia, India, and China meeting in Rio de Janeiro expressed 'serious concerns' over what they described as 'indiscriminate' and potentially illegal import tariffs, warning of their impact on global trade.
I am pleased to announce that the UNITED STATES TARIFF Letters, and/or Deals, with various Countries from around the World, will be delivered starting 12:00 P.M. (Eastern), Monday, July 7th.
In response, Trump lashed out at BRICS, warning, 'Any country aligning themselves with the Anti-American policies of BRICS will be charged an ADDITIONAL 10% tariff. There will be no exceptions to this policy.'
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