Trump Announces New Wave of Tariff Letters

Trade partners face potential duties as negotiation deadline looms.

As a 90-day pause on reciprocal tariffs nears its end, the **Trump** administration is preparing to send letters outlining tariff rates to countries without trade deals. The move intensifies pressure on negotiating nations ahead of the rapidly approaching deadline.

Tariff Details

**Donald Trump** told the media that around a dozen letters would be dispatched Friday, with more to follow over the next few days. According to **Trump**, these tariffs could range from “maybe 60% or 70% tariffs to 10% and 20% tariffs.”

However, **Trump** didn’t specify which countries would be targeted or if certain goods and services would be impacted.

Impending Deadline

**Trump** stated that by July 9th, countries should “be fully covered,” referring to the deadline for reaching bilateral trade agreements to avoid the impending duties. He added that his “inclination is to send a letter out and say what tariffs they are going to be paying” because “it’s much easier.”

Deals and Truces

So far, the **Trump** administration has finalized trade deals with the UK and Vietnam. Following a trade war, a truce was agreed upon with China after tariffs were imposed.

EU Deal Possible

Treasury Secretary **Scott Bessent** suggested Thursday that the U.S. is nearing a high-level framework deal with the EU to prevent tariffs on exports from the bloc. On the same day, **Trump** secured congressional passage of his tax and spending bill.

Negotiations Continue

**Trump** indicated earlier in the week that the July 9th deadline would not be extended. According to data released in May 2024, the average U.S. tariff rate on imported goods was 2.4% (Statista).

“We’re going to do what the president wants,” **Bessent** stated on Thursday. “And he’ll be the one to determine whether they’re negotiating in good faith.”