The US plans to notify trading partners of new tariff rates starting this week, with implementations set for early next month. President Trump indicated that 10 to 12 letters will be issued initially, with further notifications to follow to ensure compliance before the 9 July deadline. Tariffs are expected to vary significantly, but specific countries and goods have not been identified. Existing trade agreements have been made with the UK and Vietnam, while negotiations continue with others, including a potential deal with the EU to prevent impending tariffs.
President Trump announced that the US will start sending out letters to trading partners on Friday, establishing tariff rates effective from the beginning of next month.
The initial batch will consist of about 10 to 12 letters, with additional correspondence expected over the following days to cover all trading partners.
Tariff rates are expected to range from 60% or 70% to 10% and 20%, but specific countries and goods subject to these tariffs were not disclosed.
The Trump administration has previously signed trade deals with the UK and Vietnam, while aiming to finalize agreements with other partners to avoid higher duties.
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