📌 Key Developments Today
Further delays on tariff implementation:
Trump’s original July 9 deadline for reinstating tariffs (base 10% plus up to 50%) has been extended to August 1, though the administration will begin sending formal “tariff letters” to select countries this week .
Targeted “letters” to trading partners:
Around a dozen letters (possibly up to 15) will notify countries that failed to strike deals—threatening tariffs of 10–70% effective August 1 .
Some larger partners (EU, India, Canada, etc.) have negotiating extensions, while smaller nations (about 100) will start receiving letters .
•Uncertainty & leverage – Trump’s flexible deadlines and letters function as negotiation tools.