Trump: A letter will be sent to all countries detailing the latest tariff rates, with new tariffs taking effect starting August.

Cailian Press, July 5th (Edited by Xia Junxiong)
According to reports, U.S. President Donald Trump stated on the 3rd of July that he would begin issuing letters to trade partners starting from the 4th, setting unilateral tariff rates and claiming that countries would start paying new tariffs starting from August 1st.
At the beginning of April this year, the Trump administration introduced a so-called “America First” policy, imposing tariffs on almost all trade partners based on their trade deficits with the United States.
Due to the shock caused by reciprocal tariffs, Trump had to take measures to ease tensions, temporarily lowering the tariff rates for all countries to 10% for a period of 90 days. During this period, the United States engaged in trade negotiations with various countries.
Trump’s deadline for the final trade negotiations was set for the 9th of July (next Wednesday), and he indicated on Tuesday that he would not consider extending the tariff waiver period.
On Thursday, Trump mentioned that about “10 to 12 notifications” would be issued on Friday, with more to follow in the coming days.
“All will be sent out by the 9th,” Trump said. “These tariffs will range from 10%, 20%, up to 60%, and 70%.”
Trump also stated that the new tariffs would come into effect on August 1st. He said: “From August 1st, the United States will start receiving tariff revenue.”
For a long time, Trump has warned that if countries fail to reach an agreement with the United States before the end of next week, he will impose tariffs unilaterally.
It is estimated that if tariffs are raised to the level threatened on July 9th, the average tariff rate for imported goods in the United States would jump from about 3% before Trump took office to around 20%, further increasing the economic pressures faced by the U.S. economy in terms of inflation and growth.
To date, the Trump administration has announced agreements with the UK and Vietnam.
When asked on Thursday whether there were any more agreements, Trump said: “We have some other agreements, but I prefer to directly send them the tariffs they will pay.”
He added: “That’s much simpler. I prefer to reach a simple agreement that can be maintained and controlled.”
ING economist Inga Fechner commented that the timing of tariff implementation in August shows that the United States might want more time to negotiate with key trading partners such as the EU, Japan, and South Korea.
Fechner stated: “This is the most noteworthy point because it means he still reserves space for negotiations.”
She also pointed out that if higher tariff rates take effect next week, major trading partners are likely to take retaliatory measures.
Trump’s tariff policies impact global markets.