Overview

• President Trump has signed letters for 12 unnamed countries outlining “take it or leave it” reciprocal tariff rates to be sent on July 7.
• Duty levels will span from 10% up to 70%, exceeding earlier outlines and targeting a range of imports starting August 1.
• The move abandons plans for scores of individual deals after only interim agreements with the UK and Vietnam.
• A 90-day pause on higher tariffs is ending under the self-imposed July 9 deadline, prompting partners like India, the EU and Japan to scramble for exemptions.
• Economists warn that steeper duties could raise consumer prices, disrupt supply chains and spark World Trade Organization compliance challenges.