PRESIDENT TRUMP SAYS U.S TARIFF LETTERS SET TO GO OUT – Commerce Secretary Lutnick says that the higher tariffs would take effect on August 1
President Donald Trump has said that the U.S. will start delivering tariff letters to other countries starting 12:00 pm ET (4pm GMT) today.
Posting on his Truth Social platform, Trump also said that countries aligning themselves with the “Anti-American policies” of BRICS, will be charged an additional 10% tariff.
Trump did not clarify or expand on the “Anti-American policies” reference in his post.
Commerce Secretary Howard Lutnick told reporters that the higher tariffs would take effect on August 1, but Trump was “setting the rates and the deals right now.”
Trump in April announced a 10% base tariff rate on most countries and higher additional rates ranging up to 50%, although he later delayed the effective date for all but 10% until July 9. Lutnick’s comments indicate a three-week reprieve.
The original BRICS group gathered leaders from Brazil, Russia, India and China at its first summit in 2009. The bloc later added South Africa and last year included Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates and Indonesia as members.
