“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 in a post on Truth Social.
The higher rates will take effect on August 1 if trading partners do not strike deals with Washington, US treasury secretary Scott Bessent said yesterday.
The rates will ‘boomerang back’ to the sometimes very high levels that Trump had announced on April 2, before he suspended the levies to allow for trade talks and set a July 9 deadline for agreements, Bessent told a TV channel.
Trump told reporters yesterday that he had signed about a dozen letters to inform countries of rate hikes, to be sent out today. "I think we'll have most countries done by July 9, either a letter or a deal," he was quoted as saying by global newswires.
The US administration has unveiled deals with the United Kingdom and Vietnam till now.
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