The US administration will notify trading partners about new tariffs set to start on August 1, with letters going out on July 9. Tariffs will vary between 10-20% and 60-70%, significantly exceeding earlier proposed rates. Countries are urged to strike deals to avoid these tariffs, with Trump indicating that some nations will not influence their assigned rates. Talks are intensifying with various economies such as Indonesia, South Korea, the European Union, and Switzerland. The financial market is reacting negatively, causing declines in stocks and currency.
Trump emphasized, "By the ninth they'll be fully covered," referring to a July 9 deadline for countries to reach deals to avoid higher import duties.
Tariffs will range from 60-70% down to 10-20%, with the top tier potentially higher than any previous levies outlined during his "Liberation Day" rollout.
Collection
[
|
...
]