July 4 - President Trump warned trading partners that the U.S. may impose tariffs of up to 70% if no agreement is reached by July 9.
He said letters notifying about the new duties would be sent today to roughly a dozen countries, with additional notifications to follow in the coming days.
The tariffs could range from about 60% or 70% on certain goods to 10% and 20% on others, and would take effect Aug. 1.
Rather than pursue one broad deal, Trump indicated he favors “mini” agreements tailored to individual markets as the July 9 deadline looms.
So far, the administration has secured trade pacts with the United Kingdom and Vietnam and reached a “truce” with China, paving the way for further negotiations.
Analysts say the phased approach may help narrow disputes more quickly, though some partners may push back on steep levy proposals.
Investors are likely to watch U.S. stock futures for responses to any retaliatory moves, while import‑dependent businesses weigh potential cost hikes.
The coming days will show whether targeted tariffs spur meaningful concessions or simply extend the standoff.
