NEW DELHI: US President Donald Trump on Saturday said that he had signed letters to 12 countries outlining the tariff levels they would face on goods exported to the United States, with the “take it or leave it” offers scheduled to be sent out on Monday, according to a report by Reuters news agency.
Speaking to reporters aboard Air Force One en route to New Jersey, Trump declined to name the countries involved, saying that information would be made public on Monday.
“I signed some letters and they’ll go out on Monday, probably twelve,” Trump said when asked about his tariff plans. “Different amounts of money, different amounts of tariffs.”
So far as the interim trade deal with India is concerned, uncertainty looms large whether the two sides will sign it before July 9.
Government sources have indicated that agriculture has been a major sticking point in negotiations, particularly because India has been on the defensive and taken a strict stance on this sector. However, India has shown willingness to reduce duties across a broad range of tariff lines. Indian negotiators, led by Chief Negotiator and Special Secretary Rajesh Aggarwal, have returned on Friday after about a week of talks with the US
Earlier on Thursday, Trump had told reporters he expected the first set of letters to be sent out Friday, a US national holiday, though the timeline has since shifted.
Amid a global trade war that has disrupted financial markets and prompted governments to protect their economies, Trump in April announced a 10 per cent base tariff rate and additional tariffs for most countries—some as high as 50 per cent. However, all tariffs above the 10 per cent base were later suspended for 90 days to allow time for negotiations.
That suspension period ends July 9, and early Friday, Trump said tariffs could rise even further—up to 70 per cent, with most expected to take effect on August 1.
To date, the only finalised agreements are with Britain—which in May secured a deal to maintain a 10 per cent rate and gained preferential terms for sectors like autos and aircraft engines—and Vietnam, which will see tariffs on many exports cut to 20 per cent from the previously threatened 46 per cent, while many US goods will enter Vietnam duty-free.