President Donald Trump is set to resume tariffs of up to 70 percent on dozens of countries, as many trade deals have not materialized.
Trump said the White House would be sending out about “10 or 12” letters on Friday to countries where trade deals are not yet in place ahead of the July 9 deadline.
The president didn’t specify which countries in his remarks to reporters Thursday evening.
“So we’re going to start sending letters out to various countries starting tomorrow,” Trump told reporters at Andrews Air Force Base after returning from a rally in Iowa.
“They’ll range in value from maybe 60 or 70 percent tariffs to 10 and 20 percent tariffs.”
Trump said “by the ninth they will be fully covered,” referring to the deadline the administration set for countries to reach a deal in order to swerve higher duties.
In April, Trump put a 90-day pause on the “reciprocal” tariffs he had announced on so-called “Liberation Day” after the move spooked the stock market.
Trump and his team then promised “90 trade deals in 90 days,” but so far only deals with the U.K. and Vietnam have been announced.
The U.S. and China called a truce after Trump initially slapped tariffs as high as 145 percent on the world’s second largest economy. Goods from China are currently subject to 30 percent.
Elsewhere, Treasury Secretary Scott Bessent hinted that a “’framework” deal with the EU to avert 50 percent tariffs on all exports was close.
“We’re going to do what the president wants,” Bessent said Thursday. “And he’ll be the one to determine whether they’re negotiating in good faith.”
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