• Trump confirms sending trade tariff letters to 12 countries starting Monday.
• Tariff rates could range from 10% to a steep 70% ahead of the July 9 deadline.
• Concerns arise as negotiations with key trading partners continue to stall.
• Deals have been finalized with the UK and Vietnam, but broader agreements are uncertain.

US President Donald Trump announced that he signed letters to 12 countries outlining various tariff levels, set to be sent out on Monday, July 7. The letters reflect an impending tariff implementation with rates potentially varying from 10% to 70%, following a previous base rate of 10% announced in April. This announcement comes as part of a push to finalize trade agreements ahead of the July 9 deadline when previously suspended tariffs take effect, according to Channel News Asia, South China Morning Post, and India Times.

Trump stated in his remarks aboard Air Force One that he prefers sending letters to countries rather than engaging in lengthy negotiations, marking a shift in his administration's approach due to several setbacks with major trading partners like Japan and the European Union. He claimed, "The letters are better ... much easier to send a letter," which reveals a simplification strategy as the deadline approaches, according to Bangkok Post and India Times.

Only two trade agreements have been successfully reached to date, with the United Kingdom maintaining a 10% tariff rate and Vietnam agreeing to a reduction on many goods. However, broader negotiations particularly concerning India seem stalled, causing escalating tensions in ongoing discussions. EU diplomats have reported insufficient progress in trade talks, leading them to consider extending current arrangements to avoid tariff hikes, as highlighted by Channel News Asia and Bangkok Post.

The impending tariffs come amid increasing global economic tensions, where countries are seeking to finalize deals swiftly to evade elevated duties. Trump’s administration has emphasized that an additional 10% duty will be applied to countries aligning with what he describes as "anti-American policies" linked to BRICS nations, stirring further controversy in international economic relations, according to South China Morning Post and Bangkok Post.