U.S. President Donald Trump has announced that the U.S. will begin issuing formal letters to trading partners about upcoming tariff increases starting Friday, July 5. These new rates, ranging from 10% to 70%, will be enforced from August 1.
"About 10 to 12 countries will get letters on Friday, and more will follow," Trump told reporters, adding that the U.S. has over 170 trade partners, and complex deals are difficult to manage. "I&rsquo;d rather just do a simple deal. You're going to pay a 20% or 30% tariff," he said.
This move comes ahead of the July 9 deadline set by the U.S. for countries to conclude trade deals under a 90-day grace period that capped tariffs at 10%. India is among those racing to finalise a bilateral trade pact before the hike.
India&rsquo;s negotiation team, led by Special Secretary Rajesh Agarwal, is currently in Washington. While an interim agreement is being pursued before July 9, broader negotiations may extend into September or October.
The U.S. seeks wider access to India&rsquo;s agricultural and dairy markets, which remain a sticking point due to their potential impact on small Indian farmers.
[Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed.]

US to Notify Trade Partners on Tariff Hikes from Aug 1

Trump confirms letters on new tariffs will start going out from July 5, affecting 10–12 nations first.

US to Notify Trade Partners on Tariff Hikes from Aug 1

Trump confirms letters on new tariffs will start going out from July 5, affecting 10–12 nations first.

July 4, 2025 | 20:15 IST