Overview

• President Trump signed letters for 12 trading partners that outline reciprocal duty rates, shifting away from bilateral negotiations.
• The notices will set import tariffs ranging from a 10% baseline up to 70%, with most levies scheduled to begin August 1 if no agreements materialize.
• The 90-day suspension of higher reciprocal tariffs, imposed in April, ends on July 9, sealing the window for last-minute dealmaking.
• Only interim agreements with the United Kingdom and Vietnam have been reached under the administration’s reciprocal tariff strategy.
• India’s commerce minister, Piyush Goyal, affirmed that New Delhi will not accept any trade deal driven by an arbitrary deadline.