US President Donald Trump sent letters to 14 nations; tariffs to increase to 25-40%

New Delhi (India) July 8: US President Donald Trump declared that the US is getting close to signing a trade deal with India as part of his plans to close the trade gap and use tariffs to increase US influence. Trump made the announcement as the United States addressed its trade deficit with fourteen countries by imposing duties on their goods.

During a private dinner with Israeli President Netanyahu, Trump told reporters, “We are close to making a deal with India. We’ve made a deal with the United Kingdom. We’ve made a deal with China.”

President Donald Trump sent letters to the leaders of various nations alerting them of their increased tariff rate, increasing the pressure on US trading partners. Trump, however, relieved some of the pressure on Monday by signing an administrative action that extended the deadline for all "reciprocal" duties, excluding China, to August 1.

It was anticipated that those "reciprocal" tariffs will take effect on Wednesday, July 9. There are instances where Trump's letters describe new "reciprocal" tariff rates that are either higher or lower than those in April.

The first people to receive Trump's letters were South Korean President Lee Jae-myung and Japanese Prime Minister Shigeru Ishiba.

Trump said that although there has been progress with important allies, new tariff notices would be sent to those countries that refuse to comply with US demands.

He said, "Others we met with, and we don't think we're going to be able to make a deal, so we just sent them a letter. We're sending out letters to various countries telling them how much tariffs they have to pay.”

Trump said that there would be flexibility for nations with valid concerns. He also did not specify the terms or extent of the possible agreement with India.

He said, “Some will maybe adjust a little bit depending if they have a cause. We’re not going to be unfair about it.”

Trump had previously warned nations supporting what he described as the "anti-American policies" of the Brics group, which includes India. He wrote in a Truth Social post, “Any country aligning themselves with the Anti-American policies of BRICS will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter.”

Trump increased taxes on imports from Bangladesh, Serbia, Cambodia, Thailand, Japan, South Korea, Myanmar, Laos, South Africa, Kazakhstan, Malaysia, Tunisia, Indonesia and Bosnia on Monday.

On August 1, the tariff slabs will go into force. The United States will implement a fresh wave of tariffs, according to letters that Donald Trump shared on Truth Social. Japan and South Korea will each be subject to a 25% tariff. South Africa will be subject to a 30% tax, while Myanmar and Laos would be subject to 40% charges. Tariffs of 25% will apply to Tunisia, Malaysia and Kazakhstan.

Bosnia and Herzegovina will be subject to a 30% tariff, whereas Indonesia will be subject to a 32% tariff. Serbia and Bangladesh will each be subject to 35% charges. Thailand and Cambodia will also be subject to the highest rates with their goods subject to 36% taxes.

Aadrika Tayal