US President Donald Trump - Photo: AFP
The information about the letter announcing the tariffs was revealed by Mr. Trump to the press on Air Force One, while he was on his way to New Jersey on July 5 (Vietnam time). However, he refused to name the 12 countries, only saying that the official information would be announced on July 7.
Mr Trump had previously told reporters that the first batch of letters would be sent on July 4, coinciding with US Independence Day, but the timing was later adjusted.
Send a letter of notice of tax instead of negotiating
Amid a global trade war that has rocked financial markets and left financial planners around the world scrambling to protect their economies , Trump in April announced a 10% base tariff, with additional tariffs that could rise to 50% for most countries.
However, tariffs above 10% have been suspended for 90 days to facilitate negotiations. This period will expire on July 9.
Speaking on July 4, Mr. Trump warned that the tax rate could increase even higher, up to 70%, and most of it would take effect from August 1.
“I signed some letters and they’re going to be sent out on July 7, maybe 12 of them. Each country will have a different tariff,” Mr. Trump said when asked about the tariff plan.
Initially, Mr. Trump and his top advisers announced that they would negotiate with a series of countries on tariffs. However, the US President has shown increasing frustration with the process, especially after many failed negotiations with major trading partners such as Japan and the European Union (EU).
Late on July 4, he added to the press that sending letters informing countries about tariffs would be easier than negotiating a lot.
However, he did not mention the possibility of reaching comprehensive trade agreements before the July 9 deadline.
Just reached agreement with UK and Vietnam
The shift in White House strategy reflects the difficulty of completing deals involving not just tariffs, but also non-tariff barriers such as agricultural import bans, especially on short notice, when trade agreements typically take years to complete.
So far, the Trump administration has only reached agreements with the UK and Vietnam. In contrast, a tentative agreement with India has yet to materialize.
EU diplomats said on July 5 that no breakthrough had been achieved and that they would likely seek to prolong the status quo to avoid facing an upcoming tariff increase from the US.
Source: https://tuoitre.vn/ong-trump-thong-bao-thue-cho-12-nuoc-bang-thu-canh-bao-ap-thue-len-toi-70-tu-1-8-20250705131012567.htm
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