Tariff Hike Looms: Trump Signs Letters To 12 Nations Ahead Of Deadline

<p>In a marked departure from earlier negotiation-based trade strategies, US President Donald Trump has confirmed that he has signed formal letters addressed to 12 countries, informing them of the tariff rates their exports will soon face.</p>
<p>The letters, which are due to be dispatched on Monday, reflect Washington&rsquo;s shift towards a more unilateral and assertive trade policy stance, reported Moneycontrol.</p>
<p>While the President refrained from disclosing the names of the nations involved, he indicated that the details of the proposed tariffs would be made public following the delivery of these letters.</p>
<p>Speaking to reporters aboard Air Force One on his way to New Jersey, Trump noted, &ldquo;I signed some letters and they’ll go out on Monday, probably twelve. Different amounts of money, different amounts of tariffs.&rdquo;</p>
<p>Originally, the letters were expected to be issued on Friday, but the US national holiday prompted a delay. The move follows a 90-day suspension period granted in April, when Trump introduced a baseline tariff of 10 per cent, with some partners facing proposed duties as high as 50 percent should they reject American terms. That negotiating window is set to close on July 9.</p>
<h2><strong>Steeper Tariffs Likely as Deadline Nears</strong></h2>
<p>With talks showing little progress&mdash;particularly with major economies such as Japan and the European Union&mdash;Trump suggested that upcoming tariff rates could be even higher, potentially reaching up to 70 per cent. These new rates are expected to be implemented from August 1.</p>
<p>&ldquo;The letters are better&hellip; much easier to send a letter,&rdquo; Trump said, signalling an end to prolonged negotiations that have yielded limited success. So far, only two agreements have been concluded&mdash;one with the United Kingdom, maintaining the 10 per cent base rate while offering industry-specific advantages, and another with Vietnam, which has accepted a reduced tariff of 20 per cent on many of its exports in return for duty-free access to American goods.</p>
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<h2><strong>India, EU Left Out as Global Uncertainty Grows</strong></h2>
<p>Talks with India have failed to produce a deal, and European Union officials confirmed on Friday that their discussions with the US had also hit a deadlock. In the absence of agreed terms, some countries may attempt to preserve current trade arrangements to avoid facing steeper tariffs post-July 9.</p>
<p>As the deadline approaches, Trump&rsquo;s hardline tariff policy has injected fresh uncertainty into global trade dynamics, with markets and policymakers closely monitoring the fallout of the administration&rsquo;s next steps.</p>