#TrumpTariffs President Donald Trump announced that he will begin sending tariff notification letters to various countries, a few days before the deadline for trading partners to reach an agreement ends on July 9, 2025. These new tariffs are expected to take effect starting August 1, 2025.

Key Points of Trump's Tariffs:

* Tariff Notification Letters: Trump stated he will send about 12 to 15 letters to countries that have not reached a trade agreement with the US.

* Additional Tariff Threats for BRICS Members: Trump threatens to impose an additional 10% tariff on countries that align with BRICS' "anti-American" policies.

* Negotiation Deadline: The suspension of tariffs granted on April 9, 2025, will end on July 9, 2025. After this date, tariffs will revert to the high levels set in April if no agreement is reached.

* Tariff Rates: A universal base tariff of 10% will be applied to most imports. Some countries, including those in the European Union, may face much higher tariffs. Trump also indicated that tariffs could reach 70% for some countries.

* Ongoing Negotiations: The US has reached agreements with the UK and Vietnam, as well as a temporary agreement with China. However, negotiations with many other countries, including Japan and the European Union, are facing challenges.

Potential Impact

* Analysts predict that the impact of these tariffs will be felt across the global economy in the second half of 2025.

* These tariffs risk provoking retaliatory measures from US trading partners, such as the European Union and India.

* They could increase production costs for US domestic companies that rely on imported goods.

* Barclays projects that global economic growth will weaken, but the US is likely to avoid an immediate recession. They also forecast that US core inflation will exceed 3%.

This situation continues to evolve, and many countries are striving to reach an agreement with the US before the new tariffs fully take effect.