Trump intends to address countries to set tariff rates - Beacon

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Friday, July 4, 2025

Trump intends to address countries to set tariff rates

Trump intends to address countries to set tariff rates

Trump addresses countries to set tariff rates                                                                                                 


 

Trump addresses countries to set tariff rates


US President Donald Trump announced that he intends to send letters to his trading partners, starting Friday, informing them of the punitive tariffs he has decided to impose on them, as the deadline for negotiations on the issue approaches.


"I'm inclined to send a letter explaining the tariffs they'll have to pay. It's much easier that way," Trump told reporters. "We'll send letters, probably tomorrow." This statement comes days before the Republican president's July 9 deadline to impose punitive tariffs of varying rates on dozens of his country's trading partners, from Taiwan to the European Union, according to Agence France-Presse (AFP).


US Treasury Secretary Scott Besant said on Thursday that about 100 countries are likely to be subject to a 10% reciprocal tariff, noting that he expects a "series of trade agreements" to be announced before the July 9 deadline to avoid sharp tariff increases.


"We'll see how President Trump deals with the countries that are negotiating and whether he's satisfied with their commitment to negotiating in good faith," Besant said in an interview with Bloomberg Television. "I think we'll see about 100 countries that will get the minimum reciprocal tariff of 10%, and then the next steps will be taken from there. So I expect a lot of action in the coming days."

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