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8h ago

Trump Readies Tariff Letters as India Trade Deal Nears

After securing reciprocal pacts with the U.K., China plus Vietnam, the administration plans to dispatch 10 letters a day specifying rates before the 90-day pause expires.

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U.S. President Donald Trump holds up a chart of "reciprocal tariffs" while speaking during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025 in Washington, DC.
U.S. President Donald Trump speaks to the press in Maryland on Thursday. He said Washington will start sending letters to countries on Friday specifying tariff rates.

Overview

  • Only three reciprocal pacts have been finalized—one with the U.K., a truce with China and a deal with Vietnam that sets a 20% tariff on exports and 40% on transshipments.
  • Starting Friday, the White House will begin sending about 10 letters per day to trading partners specifying the unilateral tariff rates they will face if no deal is reached.
  • Treasury Secretary Scott Bessent said around 100 countries are expected to receive a baseline 10% reciprocal tariff in exchange for similar U.S. market access.
  • Negotiators aim to complete an interim India trade pact within 48 hours to head off a looming 26% tariff, with agriculture, dairy and genetically modified crops excluded from talks.
  • President Trump expressed skepticism about reaching an accord with Japan and warned Tokyo could face tariffs of 30%–35% if negotiations fail.