U.S. President Donald Trump said countries that do not reach individual trade agreements with Washington by 1 August will face tariffs ranging from 15% to 50%. Speaking in Washington on 23 July, the president described the measure as a straightforward way to enforce what he calls “reciprocal” trade terms. Trump told reporters two days later that most of the agreements will be finalized through written notices rather than formal negotiations. He said he intends to dispatch almost 200 tariff letters, each specifying the duty rate a country must pay. While the ceiling remains 50%, some letters will list lower rates of 10% or 15%. The president added that once a letter is sent “the deal is done,” characterizing the missives as contracts that lock in the tariff level. The strategy marks a further escalation of his effort to pressure trading partners into bilateral accords as the August deadline approaches.
Trump: Most tariff deals are finished
Trump's "framework trade deals" are the greatest, because no one has to actually DO anything! https://t.co/CvNVciOqIB
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