The USA introduces new tariffs amid trade negotiations
AI Summary
According to BlockBeats, US President Donald Trump announced that the US government will begin sending letters to trading partners to establish new unilateral tariff rates. Trump noted that these tariffs are likely to take effect from August 1.
Starting July 4, the US will send letters to several countries, with approximately 10-12 letters sent on the first day, and more in the following days. Trump expects that all letters will be delivered by July 9, which he previously set as the deadline for tariff negotiations.
New tariffs will vary, with rates that could range from 60% or 70% to as low as 10% or 20%. Trump stated that the final text of the letters is complete, detailing the tariffs that each country will be required to pay.
While it remains unknown which countries will receive these letters, Trump criticized certain trading partners, including the European Union and Japan, for excessive rigidity in negotiations. Earlier this week, Trump threatened to send a letter to Japan, setting a tariff rate of up to 35%.