By Martin Shwenk Leade
APUS President Donald Trump speaks with reporters as he arrives on Air Force One, Friday, July 4, 2025, at Joint Base Andrews, Md.
US President Donald Trump on Friday said he has signed a set of letters outlining proposed tariff levels on exports from 12 countries, with the missives set to be sent out on Monday. The offers, he said, would be non-negotiable — a “take it or leave it” proposition to U.S. trading partners.Speaking to reporters aboard Air Force One en route to New Jersey, Trump declined to identify the countries receiving the letters, saying their names would be revealed on Monday.”I signed some letters and they’ll go out on Monday, probably twelve,” he told reporters. “Different amounts of money, different amounts of tariffs.”The plan marks a shift from earlier this week, when Trump had indicated that the first batch of letters would be sent on Friday — a national holiday — though the timing has now been revised.Tariff deadline nears amid faltering trade talksIn April, Trump unveiled a base tariff of 10% on most goods entering the U.S., with the possibility of higher rates — up to 50% — for certain countries. Those elevated tariffs were put on hold for 90 days to allow time for negotiations, but that suspension is set to expire on July 9.Live EventsTrump on Friday suggested the tariffs could go even higher, potentially reaching 70% for some countries, with most new rates expected to take effect from August 1.The White House initially aimed to negotiate customized tariff deals with several nations, but frustrations over stalled talks with key players like Japan and the European Union appear to have prompted a change in approach.”The letters are better … much easier to send a letter,” Trump said, indicating a preference for direct, unilateral communication over protracted negotiation rounds.Deals with UK and Vietnam; India, EU talks stallSo far, Washington has concluded agreements with just two countries. The United Kingdom secured a deal in May to maintain the 10% base rate and obtained preferential treatment in sectors like automotive and aircraft engines. Vietnam also reached a deal, agreeing to a reduced tariff of 20%, down from a proposed 46%, and allowing duty-free entry for many U.S. goods.Negotiations with India have not yielded results, and EU diplomats said Friday that talks with the Trump administration had failed to break the deadlock. European negotiators are now considering maintaining current trade terms in hopes of avoiding further tariff hikes.Despite Trump’s earlier prediction that broader trade deals might be sealed before the July 9 deadline, there was no indication on Friday of such agreements being finalized.(With inputs from Reuters)(You can now subscribe to our Economic Times WhatsApp channel)
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