According to BlockBeats, U.S. President Donald Trump announced that the United States government will begin sending letters to trade partners to establish new unilateral tariff rates. Trump indicated that these tariffs are likely to take effect on August 1.
Starting July 4, the U.S. will dispatch letters to several countries, with an estimated 10 to 12 letters sent on the first day and more to follow in the coming days. Trump expects all letters to be delivered by July 9, which he previously set as the deadline for tariff negotiations.
The new tariffs will vary, with rates potentially ranging from 60% or 70% to as low as 10% or 20%. Trump stated that the final text of the letters has been completed, detailing the tariffs each country will be required to pay.
While it remains unclear which countries will receive these letters, Trump has criticized certain trade partners, including the European Union and Japan, for being overly rigid in negotiations. Earlier this week, Trump threatened to send a letter to Japan, setting its tariff rate as high as 35%.