U.S. President Donald Trump has signed letters to 12 countries outlining new tariffs ranging from 10% to 70% on exports to the United States, marking a significant escalation in global trade tensions. The measures, set to take effect August 1, follow stalled negotiations with major trading partners.
From Negotiations to Ultimatums
Trump revealed the move aboard Air Force One, describing the tariffs as final offers to be delivered Monday. While refusing to name targeted nations, he emphasized a strategic pivot: "The letters are better… much easier to send a letter." This shift comes after failed attempts to secure bilateral deals with partners like Japan and the EU.
Timeline and Economic Impact
The decision follows a 90-day suspension of higher tariffs announced in April, which expires July 9. Analysts note the unusually broad rate range—from 10% base tariffs to punitive 70% levies—could disrupt supply chains and market stability. Recent agreements with Britain and Vietnam suggest some nations may secure exemptions through sector-specific concessions.
Global Response and Uncertainties
EU diplomats report stalled negotiations with Washington, while an anticipated deal with India remains elusive. The White House's accelerated timeline contrasts with traditional multi-year trade negotiations, raising questions about implementation feasibility. Markets await Monday's official country list and rate specifics to assess regional impacts across Asia and beyond.
