The United States will send letters to partner countries indicating import duties starting July 7

Trump has warned that tariffs will range from 60-70% to 10-20%. The upper limit of tariffs is higher than what Trump said in April when he first imposed import tariffs on 185 countries.
Starting Monday, the United States will begin sending letters to countries exporting goods to the United States indicating import duties. This was reported by the Axios portal, citing a statement by Donald Trump. The portal notes that the head of state did not specify which countries will receive the letters or what rates will be set.
On Thursday, Trump said the rates outlined in the letters would go into effect on August 1 , and warned that the tariffs would range from 60-70% to 10-20%. Media outlets noted that the upper limit of the tariffs was higher than what Trump had announced in early April, before he froze the tariffs for 90 days, until July 9. So far, the United States has managed to partially negotiate tariffs with the UK and Vietnam, and to conclude a temporary agreement with China, but negotiations with India, Japan and the European Union have stalled.
Investment strategist of Aricapital Management Company Sergey Suverov comments:
— The tariff negotiations between the US and the rest of the world are quite difficult, the deadline is July 9. However, there are still no results for many countries. The US has only concluded final agreements with Vietnam, the UK and a temporary agreement with China, so the US has begun to take a more aggressive policy and will send letters to countries about the introduction of duties. There is already talk of 70% duties, which has not happened before, this, of course, is a big potential damage to the global economy, but most likely, Trump will insist on higher duties with those countries that have a large trade surplus with America. In particular, we can talk about Canada and Mexico, the European Union, Japan, Indonesia, India, Malaysia - approximately such countries. With some, the approach will be softer, with others, more rigid, but the principle of Trump's policy is to reduce the US trade deficit in trade with other countries. At the same time, of course, negotiations with a number of trading partners will be difficult, in particular, we are talking about such difficult trading partners as countries with a fairly strong economic potential - first of all, we are talking about the European Union and Japan, these countries can talk to the United States almost on equal terms. I think these letters are not yet the final scenario in the trade war, perhaps further negotiations and some smoothing of positions will follow.
— Why did this message about the tariff deadline leave the market indifferent?
— I think the market has already gotten used to Trump's tariff initiatives, although there is an impact on the dollar index, on stock indices, and probably will be, but I think the markets believe that these letters from Trump are only intermediate stages, and further negotiations will follow, so there is no final clarity yet, but there is uncertainty. Therefore, the reaction is quite muted at the moment.
Trump is so unpredictable that everyone is tired of guessing, which is why the markets have had such a weak reaction to his statements about sending letters and a 70 percent tariff, says financial expert Mikhail Khanov :
— Everyone has long since gotten used to these nervous injections, and what specific number it is — 70, 50, 150, 250 — to be honest, no one cares anymore, I understand that soon they will simply ignore his posts on social networks with the words: “Please give us the document, we will read it, then we will react.”
— Do you think it will be possible to reach an agreement with the European Union on base rates?
— The most important thing to note in the attempts to reach an agreement with the European Union is that Trump casually said that he would negotiate with everyone individually. And then Brussels, to put it mildly, became despondent, because this contradicts in every way the perception that is being imposed on the world that Europe is united, at least in words, so this statement threw everyone off track, and there are already individual threats against Spain for its rebellious behavior at the NATO summit, there are already individual maxims against Germany, so I don’t think it will be that simple. But if they suddenly fail to reach an agreement with Europe as a single entity or even with the majority of countries, which officials in Brussels will certainly not allow, then, in my opinion, this will be the biggest surprise, how openly Trump will go to a cold economic war with his recently closest economic ally, it will be just nonsense. I honestly don't believe in it, I think all agreements will be reached, well, with a delay, well, for some time, perhaps there will be a duty after 90 days, by the end of July, then it will be removed. It is obvious that they will agree otherwise, it will be such an obvious collapse of the former allies that it is worthy of a separate mention and description, at least in the book.
— Who is the most difficult to negotiate with?
— Despite the apparent simplicity and agreements reached, it will be most difficult with China, because both sides of the ocean understand that we are talking about laying the foundation for the center of the world in the near future, if I may say so. If we talk about the European Union, I think that it will be most difficult to negotiate with those countries that have the most problems in the economy — remember, there was such an abbreviation PIGS, but now Italy is feeling more or less better. But Spain, Portugal, perhaps Greece, although they will all sign, relying on the long-term fulfillment of obligations.
On April 2, the US President raised tariffs on goods from 185 countries, but a week later suspended the duties for 90 days, until July 9. In mid-May, Trump said there was no need for deals, and instead the US would send letters to trading partners stating the rates on the goods they supply.
On July 3, US Treasury Secretary Scott Bessent warned US trading partners of the risks of delaying negotiations, noting that in such a case, import duties could be returned to the level of April 2.
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