Daijiworld Media Network - Washington

Washington, Jul 5: US President Donald Trump has signed off on a new round of tariff notifications targeting exports from 12 countries. These letters, expected to be dispatched on Monday, July 7, mark another escalation in Trump’s aggressive trade policy approach.

Speaking aboard Air Force One, Trump declined to name the affected countries but confirmed that each would face different tariff levels. “I signed some letters and they'll go out on Monday—probably 12 of them. Different amounts of money, different amounts of tariffs,” he told reporters, adding, “Letters are better. It’s much easier to send a letter.”

The President hinted that these reciprocal tariffs could rise sharply, with some potentially reaching up to 70 per cent, and indicated that the new measures might take effect from August 1.

This follows Trump’s April announcement of a baseline 10% tariff on most imports, with higher rates for specific nations, including China. These elevated tariffs had been temporarily suspended until July 9.

Meanwhile, despite intense negotiations, India and the US have yet to finalize a much-anticipated interim trade agreement. A high-level Indian delegation, led by Chief Negotiator Rajesh Agrawal, returned from Washington after a week-long dialogue (June 26 – July 2) without sealing a deal. The key sticking point remains Washington’s push for greater access to India’s agricultural and dairy markets—areas India considers critical for protecting the livelihoods of millions of small farmers.

However, there remains a narrow window of opportunity. Both sides may attempt to hammer out an agreement at the political leadership level before the looming July 9 deadline, in hopes of shielding Indian exports from Trump’s impending tariffs.

Speaking in New Delhi, Commerce Minister Piyush Goyal stressed that India would not rush into any agreement under external pressure. “India is open to trade deals in the national interest, but we don’t negotiate with a deadline,” Goyal remarked, reaffirming the government’s stance.

While India seeks relief from the looming 26% tariffs, it is also pushing for concessions on key labour-intensive sectors like textiles, leather, and footwear, which are crucial for boosting employment and exports.

So far, the US has successfully concluded trade pacts with Vietnam and the United Kingdom, further increasing pressure on nations still engaged in negotiations.