US President Donald Trump has signed tariff letters targeting exports from 12 countries, which are expected to be dispatched on Monday, July 7. While the names of the affected nations remain undisclosed, Trump hinted at varying tariff levels, with some potentially reaching up to 70 per cent, effective from August 1.

Speaking aboard Air Force One, Trump said, “I signed some letters and they’ll go out on Monday, probably 12. Different amounts of money, different amounts of tariffs.” He also noted that sending letters was a simpler approach to conveying tariff changes.

The United States had earlier proposed a 10 per cent base tariff on most imports, along with higher rates for select nations like China. These higher tariffs, initially scheduled to begin in April, were deferred until July 9.

Washington has already finalized trade agreements with the United Kingdom and Vietnam. However, trade negotiations with India remain unresolved. A high-level Indian delegation, led by Chief Negotiator Rajesh Agrawal, returned from Washington after talks on a potential interim deal without reaching a final agreement.

Commerce Minister Piyush Goyal emphasized that India will not rush into a free trade agreement under any deadline pressure. “India is open to trade deals in national interest, but we do not negotiate under deadlines,” he said.

The key sticking point is the US demand for greater access to India’s agricultural and dairy markets—areas that India considers sensitive due to their impact on small farmers’ livelihoods.

India seeks tariff exemptions and better market access for its exports like textiles, leather, and footwear. Despite the current impasse, a deal may still emerge at the highest political level before the July 9 deadline.