President Donald Trump on Friday revealed that he had signed 12 trade letters scheduled to be sent out on Monday, marking a key step before new US tariffs take effect, according to a report published by AFP on Saturday.
Speaking aboard Air Force One, Trump reportedly said, “I signed some letters and they’ll go out on Monday, probably 12,” and added that the names of the countries receiving these letters would be announced that day.
Tariffs to Rise by 10% to 70%
Notably, the development comes just days before stricter duties — ranging from 10 to 70 percent — are due to be levied on imports from several economies, including Taiwan and the European Union.
Trump had already imposed a 10 percent tariff on products from nearly all of America’s trading partners earlier in the year, with further rate hikes set to be implemented on some countries in the near future.
But he suspended these levies from July 9 to enable continued trade talks. Many countries have since tried to negotiate agreements that would enable them to evade the huge tariffs.
Trade Deals and Diplomatic Initiatives
To date, the US has negotiated trade agreements with the United Kingdom and Vietnam. Washington and Beijing have also agreed to temporarily relax some of the highest tariffs on each other.
Trump emphasised that posting tariff notices through letters is “much easier than sitting down and working 15 different things,” as reported by AFP.
“With the UK, we did that. And it was great for both parties. With China, we did that, and I think it’s very good for both parties,” Trump reportedly said, adding, “You know, with the UK, we did that. And it was good for both sides. With China, we did that, and I think very good for both sides.”
“Listen, we know we have a certain deficit, or in some cases a surplus, and this is what you have to pay if you wish to do business (with) the United States.”
With the July 9 deadline looming, most nations are waiting to observe how these tariffs will redefine trade relations with the US.
