Donald Trump has announced that his administration will begin sending tariff letters to US trade partners starting Monday, ahead of a new round of tariffs set to take effect on August 1. The move follows a 90-day pause on tariff increases that ends on July 9. Confusion remains around timelines, but Commerce Secretary Howard Lutnick confirmed the tariffs will officially begin in August.
Trump also warned that countries aligning with BRICS — a group including Brazil, Russia, India, China, and South Africa — would face an additional 10% tariff. His post on Truth Social said there would be “no exceptions.”
While some trade deals are reportedly close, uncertainty has affected global markets. Stocks in Japan and South Korea fell slightly Monday morning.
Treasury Secretary Scott Bessent said over 100 smaller countries will also receive letters, reviving earlier tariff threats. Some flexibility may be offered to countries actively negotiating with the US, officials said.
