US President Donald Trump has announced he is sending letters to 12 countries warning them about new tariffs on the goods they export to America.
Speaking to reporters on Air Force One while travelling to New Jersey, Trump said the letters would go out on Monday with his “take it or leave it” offers.
“I signed some letters, and they’ll go out on Monday, probably twelve,” Trump said. “Different amounts of money, different amounts of tariffs.” He did not name the countries but said the details would be made public soon.
Tariffs Could Be Raised Further
Earlier, Trump had said the first batch of letters would be sent out on Friday, which was a national holiday in the US, but the date was moved to Monday.
The move comes as part of a wider trade war that has unsettled global financial markets and worried governments worldwide. Back in April, Trump announced a 10% base tariff rate, with higher rates-some up to 50%-for many countries. However, all the extra tariffs above 10% were put on hold for 90 days to allow negotiations. That period ends on July 9.
On Friday, Trump said the tariffs could be raised even further, possibly reaching up to 70%, and would mostly start on August 1.
The president and his team had first planned to negotiate detailed agreements with many countries. However, Trump said he has become frustrated after talks failed with major trading partners like Japan and the European Union. “The letters are better … much easier to send a letter,” he told reporters.
Trade Deal With UK, India, and Vietnam
So far, the only trade deals completed are with Britain and Vietnam. Britain agreed in May to keep a 10% tariff and got special treatment for sectors such as cars and aircraft engines. Vietnam’s tariffs were reduced to 20% from the earlier threat of 46%, and many American products will be allowed into Vietnam duty-free.
Will It Affect India?
It is not yet confirmed if India is among the 12 countries getting Trump’s tariff letters, as he did not name them. However, a trade deal with India that the US had hoped to finalise has not materialised, which raises the chances that India could be targeted with higher tariffs if talks continue to stall.
If included, India might face new duties on its exports to America starting as soon as August 1, which could impact products like textiles, machinery, and farm goods. Similarly, European Union diplomats also failed to reach a deal with the Trump administration. The EU may now try to extend the current arrangements to avoid a hike in tariffs.