President Trump said his administration will begin notifying several of its trading partners of unilateral tariffs as high as 70%, escalating trade tensions as markets closed for the July 4 holiday.
“We’re going to start sending letters out to various countries starting tomorrow,” Trump told reporters late Thursday.
“We’ll probably have 10 or 12 go out tomorrow, and over the next few days, I think by the 9th, they’ll be fully covered. And they’ll range in value from maybe 60 or 70% tariffs to 10 and 20% tariffs.”
The president added that the tariffs would take effect Aug. 1.
The administration’s 90-day pause on the stiff “reciprocal” tariffs unveiled in April expires Wednesday.
President Trump said Thursday that his administration will begin notifying several of its trading partners of unilateral tariffs as high as 70%. Trump is seen far left alongside Rep. Randy Feenstra (R-Iowa) and Homeland Security Secretary