President Donald Trump revealed he had signed letters directed at 12 countries, outlining the tariff levels they will face on exports to the United States. Describing the letters as "take it or leave it" offers, Trump stated they would be sent out on Monday.
While speaking to reporters aboard Air Force One en route to New Jersey, Trump declined to name the countries involved, saying the information would be released publicly on Monday. Earlier in the week, he had indicated that the first batch of letters might go out on Friday, July 4 — a U.S. national holiday — but the timeline has since shifted.
The announcement comes amid a broader global trade standoff that has shaken financial markets and prompted urgent responses from governments worldwide. Back in April, Trump introduced a base tariff rate of 10%, with the potential for additional tariffs reaching as high as 50% for several nations.
Following the announcement, tariffs above the 10% base rate were suspended for 90 days to allow time for negotiations. This suspension period is set to expire on July 9. However, Trump hinted on Friday that tariffs could increase even further — potentially up to 70% — with most of the changes taking effect on August 1.
“I signed some letters, and they’ll go out on Monday, probably twelve,” Trump said. “Different amounts of money, different amounts of tariffs.”
Initially, the White House had intended to negotiate tariffs with a broad array of countries. However, Trump expressed growing frustration with the slow progress of talks, particularly with key trading partners like Japan and the European Union.
“The letters are better ... much easier to send a letter,” Trump said, implying a preference for unilateral action over drawn-out negotiations.
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Despite earlier optimism, Trump did not revisit his previous prediction that several trade deals could be finalised before the July 9 deadline. The administration’s approach now reflects the complexity of negotiating comprehensive trade agreements — which typically involve years of talks — within a compressed timeline.
To date, only two nations have finalised trade arrangements under Trump’s revised tariff policy:
Negotiations with India have yet to yield an agreement, and European Union officials reported no breakthroughs in recent discussions. EU diplomats suggested they may attempt to maintain the current trade arrangements to stave off steep tariff hikes.
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Published on: Jul 7, 2025, 11:19 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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