US President Donald Trump on Saturday announced that his administration will begin dispatching letters to 10 to 12 countries starting Sunday, outlining reciprocal tariff rates. These letters, Trump said, will explain what each country is expected to pay under his proposed new tariff regime. Describing them as “take it or leave it” offers, Donald Trump said the letters would be sent out on July 7. The rollout is expected to conclude by July 9, and the tariffs will kick in on August 1.
"The money is going to come to the United States from August 1," Trump said while addressing reporters at Joint Base Andrews before heading to Iowa.
While the US President did not reveal which countries will receive the letters, the development has stirred fresh speculation in India, where trade negotiators are under pressure to conclude a long-awaited trade agreement with Washington.
India stresses sovereignty, cautious on tariff deadlines
Indian Commerce Minister Piyush Goyal on Friday reiterated that India will not be rushed into any agreement based on external timelines.
"India does not enter into any trade agreement based on deadlines. We will sign a deal with the US only when it is fully finalised, properly concluded, and in the national interest," Goyal told reporters.
The minister emphasised that India is open to deals with developed economies, but not at the cost of its domestic priorities. “National interest should always be supreme. Keeping that in mind, if a deal is made then India is always ready,” he said.
Goyal added that India is currently negotiating free trade agreements (FTAs) with multiple countries including the EU, Chile, Peru, Oman, New Zealand, and the US. But he stressed that any agreement must be a "win-win" for both sides.
What’s next?
With Trump’s self-imposed July 9 timeline approaching, all eyes are on how India and other major economies respond. Trade analysts believe that while the US is pushing aggressively on tariffs, countries like India will be wary of signing deals under pressure.
If no deal is reached in time, Indian exporters may face higher tariffs on key products from August 1. Conversely, a well-negotiated pact could open up new opportunities in sectors like pharmaceuticals, textiles, and digital services.
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