Trump to start sending tariff letters Friday; global duties begin August 1

Business Standard

5 hours ago

US President Donald Trump announced that the tariffs will range from 60 or 70 per cent to 10 or 20 per cent, adding that countries must begin payments by August 1. Speaking to reporters before departing for Iowa, Trump said that 10 to 12 letters will go out on Friday, with more expected over the following days. 'I think by the ninth they'll be fully covered,' he said, referencing the end of the tariff pause.
What are Trump's 'Liberation Day' tariffs and who will they affect?
Trump imposed sweeping reciprocal tariffs on over 100 countries on April 2, aiming to boost domestic production. These included a 10 per cent baseline tariff on all imports and significantly higher rates for countries running trade surpluses with the US. Lesotho, Cambodia, and Vietnam faced tariffs of 50, 49, and 46 per cent respectively. India was assigned 26 per cent, and China 34 per cent.
Why were the tariffs paused, and which countries secured deals?
On April 9, just before implementation, the Trump administration announced a 90-day pause—expiring July 9—to allow countries to negotiate trade deals. So far, only the UK, Vietnam, and China have finalised agreements. Trump has repeatedly warned that countries failing to secure a deal by the deadline will face the announced tariffs.
Could tariffs go higher than initially announced?
According to Bloomberg, if Trump formalises the top-tier tariff range of 60 to 70 per cent, it would exceed the maximum 50 per cent previously outlined. These revised rates would apply unilaterally to countries that do not reach deals, altering the trade landscape significantly.
Will more trade agreements be announced before the deadline?
Commenting on the possibility of additional deals, Trump said, 'We have a couple of other deals, but my inclination is to send a letter out and say what tariffs they are going to be paying.' This suggests limited room for new agreements as the July 9 deadline approaches.
Can India reach a trade deal with the US before July 9?
India is among the countries pushing for a last-minute deal. While Trump has expressed optimism, a Financial Times report indicated that an interim agreement might be finalised this week. White House Press Secretary Karoline Leavitt confirmed, 'They are finalising these agreements, and you'll hear from the President and his trade team very soon when it comes to India.'
Is Trump planning to extend the July 9 deadline?
Although earlier reports suggested the US might consider an extension, Trump recently ruled it out, stating he is 'not considering' moving the July 9 deadline. The window for negotiations is therefore rapidly closing.