Trump is expected to launch up to 70% notifications to US tariff countries

Trump told reporters that he was out on Friday about the “10 or 12” letter, and that additional letters will come in “the coming days.”

“The ninth will be fully covered,” Trump added, referring to the July 9 deadline, setting countries to reach deals with the US to avoid the import obligations he initially threatened. “These values ​​range from 60 or 70% tariffs to 10% and 20% tariffs,” he added.

The US has reached an important stage in which discussions between Indonesia and South Korea and the economy from the European Union and Switzerland are popping up the most controversial issues. Trump’s latest threat matches his pattern of issuing ultimatums to break stages and matches previously statement Some countries must have no say at the tariff level.

The top tier of his new tariff range, if formalised, will be higher than any of the taxes first outlined by the President, whom he first outlined during his “liberation date” unfolding in early April. They ranged from baseline tariffs of 10% to up to 50% for most economies. Trump did not elaborate on which countries will receive tariffs or whether that means certain products will be taxed at a higher rate than other countries.

“The country will begin paying on August 1st. The money will come to the US on August 1st,” Trump said. Duties are usually paid by an importer or an intermediary acting on behalf of the importer. However, it is often the profit margin or the end consumer that will ultimately absorb much of the cost.

Asian and European Stocks It was dropped With dollars. The US Stocks and Treasury market closed on the July 4 holiday.

The delayed effects of tariffs on inflation include Federal Reserve officials Careful when cutting interest rate. The Fed has cut this year’s rate this year to determine whether tariff-driven price increases will evolve into a more permanent cost of living despite strong pressure from Trump.

Trump has long threatened to simply charge them a fee and raise the interests of his trading partners who have rushed to secure an agreement with his administration if the country fails to reach a deal with the US before the deadline next week.

He first announced his higher so-called “mutual” tariffs on April 2, but suspended them for 90 days, allowing the country to negotiate time and introduce a 10% rate at that interval.

Bloomberg Economics estimates that if all mutual tariffs are raised to endangered levels on July 9, the average US import obligation could rise to 3%, close to about 20%, before Trump takes office in January. It increases the risk of growth and inflation in the US economy.

So far, the Trump administration has announced deals with Britain and Vietnam, with the world’s two biggest economies eased tariffs on Taat and agreed to trans with China, which saw it. Lower export control.

Asked if more transactions were ongoing, Trump replied, “We have a few other transactions, but you know, my trend is to send a letter and say the tariffs they pay.”

“It’s much easier,” he said. “I just want a simple transaction that you can keep and control.”

Trump announced Vietnamese deals on Wednesday, saying the US would announce a 20% tariff on Vietnam’s exports to the US and a 40% fee for items deemed to have introduced the country.

Vietnam trade

The rate is lower than the Trumps initially imposed on Vietnam below 46%, but higher than the universal 10% level. And many of the details of the deal are still unknown, and the White House has yet to release term sheets or make public declarations codified the deal.

Vietnam said it was negotiated after Trump’s announcement It was still going on.

Indonesia According to the national chief negotiator on Friday, he believes it will be close to securing a “bold” trade deal with the United States, spanning critical minerals, energy, defence cooperation and market access ahead of the looming tariff deadline.

However, many major trading partners, including Japan, South Korea and the European Union, are still working to finalize their agreement.

Korea’s Top Trade Official will visit the US this weekend Fresh suggestions With last minute bids for grace before higher tariffs begin.

The US President expressed optimism about reaching an agreement with India, but spoke harshly about the outlook for an agreement with Japan, and cast Tokyo as a difficult negotiation partner. He intensified his criticism this week, saying that Japan should “be forced to pay 30%, 35%, or the number we have decided.”

Trump on Tuesday also said he has not considered delaying the deadline for next week. Asked about a potential extension of negotiations, U.S. Treasury Secretary Scott Bescent said earlier Thursday that Trump would make the final call.

“We’re going to do what the president wants. He’ll be the one who will determine if they’re negotiating in good faith,” Bescent said on CNBC when asked if the deadline could be extended.