FX.co ★ Trump Plans Uniform Tariff Letter for Over 150 Countries

President Donald Trump announced on Wednesday his intention to distribute a uniform letter to over 150 countries, detailing the tariff rates they will encounter. He emphasized that "the rates will be consistent for that group," noting that these are "not major countries" and have limited trade relations with the United States, unlike China or Japan. Currently, all nations are subject to a 10% base tariff implemented since April, but Trump has suggested the possibility of an increase to 15–20%, though he did not confirm the exact figures. Around two dozen countries, including members of the EU, Japan, and South Korea, have already received individualized notifications with tariff rates effective from August 1, leading to last-minute negotiations in pursuit of more favorable terms. Nations with significant trade deficits with the U.S., such as Taiwan, Switzerland, and India, have yet to receive this notification. Trump's comments about India have been somewhat ambiguous; he mentioned ongoing negotiations but also indicated, “We’re very close to a deal.” Regarding Japan, he remarked, “I think we’ll probably abide by the letter,” suggesting an agreement may not be forthcoming.