United States President Donald Trump said that his administration is preparing to send letters to the nations, notifying them of the tariffs they will be paying in the coming days.
Speaking to reporters on Friday, Trump stated that the letters would be sent to at least “10 to 12 countries,” with more expected to follow soon after.
He said, “All the nations facing the US tariffs will be notified by Wednesday." That’s exactly after the pause in the deadlines expires over reciprocal tariffs.
The US president did not inform the reporters about which countries were the first to receive these letters. Though he made it clear that tariffs on the countries receiving the letters would be slapped with 60 or 70 per cent to 10 or 20 per cent, depending on their relations with the United States.
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He said the countries would start paying the levies on 1 August. Besides, he also told reporters on Thursday that his administration is going to target “more than 170 countries” the US needs to reach agreements with, including those with whom deals are “more complicated.”
Trump is planning to impose tariffs on developed and developing economies alike, without considering the challenges that a country as diverse as India might have to cope with if these tariffs are imposed on New Delhi.
With the pause on tariffs due to end next week, US trading partners around the world are waiting to see what Trump will decide.
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