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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] WASHINGTON, D.C. – Former U.S. President Donald J. Trump announced on Saturday that he has signed formal notification letters to 12 countries regarding the imposition of reciprocal tariffs. The letters are scheduled to be delivered on Monday, July 7, signaling the next phase of the administration’s “Liberation Day” trade policy.
The move follows Trump’s April declaration of a blanket 10% tariff on all imports into the United States, with the potential for country-specific adjustments ranging from 20% to as high as 70%, depending on trade imbalances. The initial 90-day grace period for negotiations ends on July 9. Unless bilateral trade agreements are finalized, the adjusted tariffs will automatically take effect on August 1.
According to reports, only a limited number of trade partners—namely the United Kingdom, China, and Vietnam—have reached tentative agreements with the U.S., while ongoing negotiations with the European Union, India, and others remain unresolved.
Treasury Secretary Scott Bessent emphasized the urgency of the situation, stating, “These reciprocal tariffs are no longer a threat; they are policy. The August 1 deadline is real, and we’re prepared to implement.”
Despite the looming deadline, financial markets have remained stable, with analysts noting that much of the impact has already been priced in. However, trade groups and international policy experts warn of potential disruptions to global supply chains and inflationary risks should the tariffs proceed without modification.
The full list of affected countries has not yet been disclosed.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
