President Donald Trump announced that the United States will begin sending formal notifications to foreign trade partners on July 4, outlining new tariff rates set to take effect on August 1. According to Trump, each country will receive a detailed letter specifying the unilateral duties it will face—ranging from 10% to 70%—unless a bilateral agreement is reached by the July 9 deadline.
The president told reporters that 10 to 12 letters will be sent out in the first wave, with more to follow in the coming days. He emphasized that the move is designed to replace protracted trade negotiations with clear, enforceable terms. “We’re giving our partners certainty. No more delays, no more excuses,” Trump said.
This step marks the conclusion of the 90-day grace period declared in early April, which Trump dubbed the “Day of Liberation” from unfair foreign trade practices. During that period, the U.S. aimed to strike trade deals with up to 90 countries. So far, only three agreements have been signed—with the United Kingdom, China, and Vietnam.
Treasury Secretary Scott Bessent confirmed that each country will receive a tailored tariff breakdown no later than July 9. Those that refuse to engage in negotiations will automatically face the new rates starting August 1. “This isn’t an ultimatum—it’s a structural reform,” Bessent said. “The world needs clear rules, and America is leading that charge.”
Financial markets responded cautiously to the announcement. U.S. stock futures dipped slightly, and the dollar weakened against the euro and the yen. Analysts warned of increased volatility in global trade flows, especially for countries still in talks with Washington.
Trump reiterated that the U.S. remains open to dialogue, but stressed that it will no longer tolerate what he described as “decades of one-sided deals.” He called the upcoming tariffs a corrective measure intended to “restore balance and fairness in global commerce.”
Unless further agreements are reached, many nations will face sharp cost increases on exports to the U.S. beginning in August. The decision has already triggered concern among American allies in the European Union, Canada, and Japan, where leaders are calling for restraint and coordinated responses ahead of the looming deadline.
