Trump Signs Tariff Letters Targeting 12 Countries; India-U.S. Trade Deal Still Uncertain
The names of the affected countries will be revealed on Monday, July 7, with tariffs expected to come into effect by August 1, potentially reaching up to 70% for certain nations.
New Delhi/Washington: US President Donald Trump has signed a series of tariff letters targeting exports from 12 countries, further escalating global trade tensions. The names of the affected countries will be revealed on Monday, July 7, with tariffs expected to come into effect by August 1, potentially reaching up to 70% for certain nations.
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“The Letters Are Better” – Trump Says Tariffs Will Vary
Speaking aboard Air Force One, President Trump stated, “I signed some letters and they’ll go out on Monday, probably 12. Different amounts of money, different amounts of tariffs.” He added, “The letters are better. It is much easier to send a letter.”
While the specifics remain under wraps, the move signals a significant shift in US trade policy, especially after earlier suspension of elevated tariffs until July 9.
Also Read: Trump Signs ‘One Big Beautiful Bill’ Into Law on Independence Day
India Returns from US Without Trade Deal Breakthrough
Meanwhile, a high-level Indian delegation led by chief negotiator Rajesh Agrawal returned from Washington without finalising a much-anticipated interim trade agreement with the US. The talks, held between June 26 and July 2, failed to reach a consensus on key issues, primarily surrounding agricultural and dairy market access.
India Firm on Protecting Farmers’ Interests
Commerce Minister Piyush Goyal, speaking at an event in New Delhi, emphasized that India is open to trade agreements in its national interest, but will not rush into any deal under pressure.
“India never negotiates trade deals with a deadline,” Goyal said, underlining that access for US dairy and agricultural products remains a sensitive issue due to its impact on small and marginal farmers in India.
India Seeks Exemption from Trump’s 26% Tariff
India has been trying to secure exemptions from the 26% tariffs proposed by President Trump, by offering a balanced deal. In return, India is seeking tariff concessions for its labour-intensive sectors such as textiles, leather, and footwear.
However, with no agreement in place and a July 9 deadline looming, pressure is mounting on both sides to reach a political-level understanding that could pave the way for a limited trade deal before the US tariffs take full effect.
Trade Deals Finalised with UK and Vietnam
While negotiations with India remain unresolved, the US has concluded trade agreements with the United Kingdom and Vietnam, suggesting that Washington is proceeding with selective deals in line with its new tariff strategy.
As the global community awaits the names of the 12 countries targeted in Trump’s new round of tariffs, India’s export sectors and policy-makers remain on edge, hoping for a last-minute breakthrough that could avert significant economic consequences.
