In a bold, unexpected twist, U.S. President Donald Trump signed letters for 12 countries setting out tariff rates on products exported to the United States. According to Trump, these "take it or leave it" offers range from a 10% base tariff to as high as 70% for some goods.
Speaking to reporters aboard Air Force One as he headed to New Jersey, Trump explained that the letters detail varying levels of tariffs – from milder rates of 10% to 20%, up to harsher measures reaching 60%-70%. This range is a clear part of his strategy amid an ongoing global trade war.
Previously, except for the 10% base tariff, additional tariffs had been suspended for 90 days to give way for trade negotiations. With that period ending on July 9, these rates could come into effect as early as August 1. While deals have been reached with countries like Britain and Vietnam, stalled talks with major partners such as Japan, the European Union, and India have prompted this letter-based approach.
By shifting away from prolonged negotiations, Trump is streamlining the process in a time of high market uncertainty. Will this decisive move ease trade tensions or further shake up global markets? Only time will tell.
Young professionals, students, and news enthusiasts should keep an eye on this unfolding story, as details on the 12 affected countries are set to be released soon. Stay tuned as this tariff twist sparks fresh debate on international trade dynamics! 🚀📈
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Trump signs tariff letters for 12 countries, proposes 10%-70% rates
cgtn.com
