Trump had earlier stated that he will write trade letters to 12 nations explaining the new reciprocal tariff rates that would be in place on August 1.
According to US President Donald Trump, he will send the first round of tariff letters, along with trade agreements, to a number of nations. These letters are anticipated to include new reciprocal tariff rates that will go into effect on August 1.
Amid high-stakes trade negotiations with multiple countries, including India, Trump announced that his first round of tariff letters would be issued to various trade partners at 12 p.m. ET (9:30 p.m. Indian time) on Monday.
I am happy to report that on Monday, July 7th, at 12:00 PM (Eastern), the United States tariff letters and/or deals with different countries across the world will be delivered. “I appreciate your consideration of this issue,” he posted on his Truth Social site.
Prior to announcing them, the US president had stated that he would write official letters to twelve nations. Following a 90-day hiatus, the reciprocal tariffs, which were announced in April, were scheduled to take effect on July 9. Trump, however, declared that the imposition would be postponed until August 1 in order to give ongoing trade negotiations more time to conclude.
Letters pertaining to the trade agreements will be distributed on Monday. Perhaps 12 or 15. And according to Howard (Lutnick), I would estimate that there may be as many as fifteen or so. Some of them will go on Tuesday and Wednesday, while others may leave on Monday. Additionally, we have struck agreements. He informed reporters in front of Commerce Secretary Howard Lutnick that “we’re going to have a combination of letters and some deals have been made.”
Trump Threatens BRICS Allies With Additional Sanctions
The US president also declared that a 10% tariff would be applied to any nation that joins the BRICS alliance, which consists of China, Russia, Brazil, and India. “Any country that supports the BRICS’ anti-American policies will be subject to an additional 10% tariff,” he continued.
This followed criticism of Trump’s tariff measures by leaders of the 11-member BRICS organization, who said that they were disrupting trade and harming the world economy. The US tariffs, according to the BRICS declaration, are “illegal and arbitrary” and have the potential to significantly curtail international trade.
US-India Trade Discussions
After negotiators just wrapped up a round of talks in Washington, CNBC-TV18 reported on Sunday that India and the United States are expected to reach a final decision on a mini-trade pact within the next 24 to 48 hours, citing sources.
According to the article, the mini-trade agreement is probably going to include yearly caps for reduced tariffs on specific labor-intensive Indian goods. Lower tax rates may be offered for some American agricultural products, such blueberries and pecan nuts. Under deadline pressure, India has demonstrated a hesitancy to hasten a trade agreement with the US, with Union Minister Piyush Goyal reaffirming that the interests of the country come first.
The United States postponed a reciprocal duty of 26% on Indian imports for 90 days on April 2. But America’s basic tariff of 10% is still in effect. India apparently agreed to a partial relief for certain agricultural concessions, but had demanded the removal of all reciprocal tariffs. Additionally, sources informed news agency PTI on Sunday that Washington now had the final say in the deal after India had “drawn its red lines.”
