#TrumpTariffs

🚨 Current Status & Deadlines

The 90‑day pause on the “Liberation Day” tariffs ends July 9. After that, new tariff rates—ranging from 10% to as high as 70%—could snap back by August 1, depending on outcomes of trade negotiations .

Earlier confusion around the timeline (July 9 vs. August 1) was clarified by Commerce Secretary Lutnick and Treasury Secretary Bessent .

📨 “Tariff Letters” Rolling Out

Starting today (July 7), the administration will begin sending formal notification letters to around 12 countries, warning them about impending tariff hikes.

These letters could outline tariffs up to 70% (10–70%) on some countries, with only two preliminary deals (UK & Vietnam) finalized so far .

🤝 Negotiations in Progress

Agreements reached: UK (partial), Vietnam (20% tariffs), China (framework on rare-earths/semiconductors) .

Still in talks: EU (dispute over ag and autos, aiming to avoid 50% tariffs), Japan (autos, rice), India (retaliatory proposals), Indonesia, South Korea, Switzerland, Canada, Thailand .

🌍 Broader Impacts & Market Reaction

Global markets dip—Wall Street and Asian markets are down, S&P 500 fell ~0.4%, Nasdaq ~0.6%, Dow ~0.3% .

Amid global tension, Trump also threatened an extra 10% tariff on nations aligning with BRICS .

✅ What to Watch

Event Significance

July 9 deadline Pause ends—tariffs may snap back for countries without deals.

August 1 New tariff rates go into effect.

Trade outcomes Watch for last-minute deals, especially with EU, Japan, India. Trump may delay or adjust based on progress.

TL;DR:

Trump’s administration is issuing tariff warning letters starting today, ahead of a key July 9 deadline to finalize deals. If no agreements are reached, higher tariffs (10–70%) will likely be activated by August 1. Negotiations continue with major partners like the UK, EU, Japan, India, and more. Markets have reacted negatively, and there's also a threat of tariffs on BRICS-aligned nations.