Tariff Tensions: Trump's Trade Deal Timeline

President Trump announced that letters detailing reciprocal tariff rates would be sent to 10-12 countries, with the process expected to complete by July 9. This announcement comes amid uncertainty over a US-India trade deal. The US intends these tariffs to take effect from August 1.

In a recent announcement, President Donald Trump revealed his administration's plan to send letters to a first batch of 10 to 12 countries, outlining reciprocal tariff rates. This initiative is expected to be finalized by July 9, according to the President.

The news comes as tensions rise regarding a potential trade deal between the United States and India. With the tariff deadline looming, it remains uncertain if an agreement can be reached in time.

Trump disclosed that the letters would inform the countries of the tariffs they will incur, with these measures set to be implemented starting August 1. The tariff rates could range from 10-20% on the lower end, to as high as 60-70%.

(With inputs from agencies.)