The United States has set new tariff rates for 12 countries in the first phase. U.S. President Donald Trump has signed the related letter. The names of the countries whose goods will face new tariffs will be announced next Monday (7 July).
Trump stated that the tariff rates specified in the letter must be accepted. He said, “It’s a take-it-or-leave-it offer.”
On Saturday (5 July), while traveling to New Jersey, Trump was asked about it by journalists on the plane. At that time, Trump confirmed that tariffs have been set for 12 countries.
Earlier, Trump had said that the tariff letters would be published on Friday, 4 July. However, the U.S. government has now delayed the release from that date.
Back in April this year, Trump imposed reciprocal tariffs on various countries around the world. He claimed that many countries impose excessive tariffs on U.S. goods. Therefore, these countries will have to pay reciprocal tariffs when exporting to the United States.
For all countries’ products, Trump set a minimum tariff of 10%, while for some countries, the rate went up to 50%.
This decision shook the global economy. However, to facilitate trade negotiations, Trump suspended the tariffs for 90 days, keeping the minimum rate at 10% for all countries. This suspension will end on 9 July. Trump has warned that, this time, tariffs could reach as high as 70% for some countries, which are likely to take effect from 1 August.
Trump told reporters that the letter he signed sets separate tariffs for each of the 12 countries — some will face higher, others lower tariffs.
The Trump administration has shown interest in negotiating tariffs separately with each country. However, discussions with the European Union and Japan have faced setbacks.
