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Last Updated:July 07, 2025, 23:08 IST
Trump Tariffs Live: Donald Trump started sending tariff letters to the trading partners on Monday. Japan and South Korea were the first nations on the list.
Donald Trump sends letters to trading partners (AP Image)
Donald Trump Tariffs Live Updates: US President Donald Trump on Monday sent tariff letters to Japan and South Korea, imposing 25% taxes on their imports, as he started dispatching the first batch of letters to various nations, days before his deadline for trade partners to reach new deals expires.
Trump made the announcement on his Truth Social platform, stating that the tariff letters and/or deals would be delivered to various nations around the world. The timing for the first tariff letter to be sent by Trump will be 9:30 PM India Standard Time (IST).
“I am pleased to announce that the UNITED STATES TARIFF Letters, and/or Deals, with various Countries from around the World, will be delivered starting 12:00 P.M. (Eastern), Monday, July 7th. Thank you for your attention to this matter! DONALD J. TRUMP, President of The United States of America,” the US President wrote.
Additionally, in a separate post, Trump also threatened an additional 10% tariff on countries aligning with the emerging BRICS bloc, accusing them of “anti-Americanism” after they criticised his trade policies at a summit held in Brazil’s Rio on Sunday.
Meanwhile, US Treasury Secretary Scott Bessent said the re-imposed tariffs would not take effect until 1 August, giving negotiators a few extra weeks to reach agreements.
FOLLOW LIVE UPDATES HERE:
Trump Tariff News Live Updates: Trump's Trade Adviser On If He Was Disappointed In Number Of Trade Deals So Far
Donald Trump’s trade adviser, Peter Navarro, responded to a question on whether he was disappointed in the number of trade deals achieved so far, and said that he was happy with the progress made.
“Every country that we run a major deficit with is fully engaged,” he told CNBC on Monday.
Trump Tariff News Live Updates: White House Briefing Begins
White House press briefing by Press Secretary Karoline Leavitt began on Monday. She initially spoke about the central Texas flash floods and is expected to address the Trump tariff issue.
Trump Tariff News Live Updates: US Treasury Secretary Says A Number Of Deals Coming Up
US Treasury Secretary Scott Bessent told CNBC in an interview on Monday that there are a number of deals coming up in the next 48 hours, as the deadline for the tariff pause ends on Wednesday.
“We are going to have several announcements in the next 48 hours. We’ve had a lot of people change their tune in terms of negotiations. So my mailbox was full last night with a lot of new offers, a lot of new proposals,” AFP quoted him as saying.
Trump Tariff News Live Updates: What Is Trump's 'Liberation Day'?
Donald Trump announced sweeping tariffs on several countries, including India, on April 2, which he called “Liberation Day”, as he claimed that the US was being “ripped off” for years.
Trump Tariff News Live Updates: Trump Says He's Ready To Modify Tariffs 'Downwards'
In his letters to Japan and South Korea, Donald Trump on Monday said that he was ready to modify tariffs “downwards” if both countries changed their trade policies.
Japan’s Prime Minister Shigeru Ishiba on Sunday had said that he would not easily compromise in trade talks with the US.
Trump Tariff News Live Updates: White House Briefing Shortly
The press briefing by White House Press Secretary Karoline Leavitt will commence shortly on the new tariffs by US President Donald Trump.
Trump Tariff News Live Updates: How Did US Stocks React After Trump's Announcement?
The US stocks dropped further after Donald Trump’s latest tariff announcements on Japan and South Korea.
The Dow dropped by as much as 530 points, or 1.2%. The S&P 500 went down by 0.87%, and the Nasdaq also fell by 0.9%, CNN reported.
Trump Tariff News Live Updates: Trump Threatens Japan, South Korea
Donald Trump, in his letters to the leaders of Japan and South Korea, threatened that if they retaliate against the 25% tariff announced by him in the letters, the same will be added to the newly levied tariffs on both nations.
Trump Tariff News Live Updates: What Did Trump Write In Letters To Japan And South Korea?
In near-identically worded letters to the leaders of Japan and South Korea, which he posted on Truth Social, Donald Trump said that the tariffs would come into effect starting August 1, as their trading relationships with Washington were “unfortunately, far from Reciprocal”.
Trump Tariff News Live Updates: US Markets Sink After Trump Announces 25% Tariffs On Japan, South Korea
The US market sank shortly after Donald Trump announced 25% tariffs on Japan and South Korea on Monday. He sent the first letters to these two countries, as he announced on Sunday that he would send tariff or deal letters to trading partners ahead of the deadline.
Trump Tariff News Live Updates: Trump Sends First Letters To Japan, South Korea, Imposes 25% Tariffs
Donald Trump sent the first tariff letters to Japan and South Korea on Monday and imposed 25% tariffs on both countries starting August 1.
He posted the letters on Truth Social, the social media platform owned by him.
Trump also shared a letter sent to South Korea.
Trump Tariff News Live Updates: What Trump Said On Trade Deals With Partner Countries?
Donald Trump on Sunday said that the US was close to sealing trade deals with several countries in the near future and will send out notifications to other nations regarding higher tariffs by the end of three-month pause date — July 9.
Trump Tariff News Live Updates: What Trump's Tariffs Letters May Include?
Trump’s Treasury Secretary Scott Bessent has said that the letters that will be sent out tonight will inform trading partners of the tariff rates their countries would face when trading with the US, unless they want to “come back and try to negotiate”.
Trump Tariff News Live Updates: Which Countries Have Signed Trade Deal With US So Far?
So far, only the UK and Vietnam have signed trade deals with the US. The US and China have temporarily agreed to lower tariffs on each other’s products, which shot up to three digits since Trump’s Liberation Day in April.
Trump Tariff News Live Updates: What Was Trump's Baseline Tariffs?
Donald Trump had imposed a 10% baseline tariff on imports from almost all countries in early April, while some countries, including India, faced higher tariffs. The European Union faced 20% tariffs.
As markets crashed globally, Trump halted the hike in tariffs for 90 days to give room for talks. The deadline ends on July 9.
However, the US government has extended the actual tariff re‑imposition date to August 1.
Trump Tariff News Live Updates: Trump Expected To Send Letters To Trading Partners Shortly
Donald Trump is expected to send the first batch of letters to around 15 trading partners at 9.30 pm IST today. The letters is likely to issue a warning that the US will raise tariffs again if they fail to make trade deals with Washington before the August 1 deadline.
Trump Tariff News Live Updates: Trump Aggressive Trade Policy Faces Critical Week
US President Donald Trump’s trade policy faces a critical week as he aims to seal bilateral deals with various countries, ahead of the August 1 deadline for the pause on tariffs to get lifted on several countries.
Trump Tariff News Live Updates: Kremlin Says BRICS Not Targeting Others After Trump's Tariff Warning
Kremlin spokesman Dmitry Peskov on Monday said that the BRICS grouping of emerging economies “has never been and will never be” aimed at countering other countries following US President Donald Trump’s threat to impose extra tariffs on BRICS members.
On Sunday, BRICS leaders had described Trump’s tariff war as “indiscriminate” and damaging.
Donald Trump Tariffs Live Updates: India-US Trade Deal Explained: What It Means And Why It Matters
The India-US trade relationship has taken centre-stage with reports indicating that it’s just a matter of days before the trade deal is sealed. While both countries have long engaged in bilateral trade, recent developments are pointing towards a more comprehensive trade agreement aimed at deepening economic cooperation, reducing tariffs, and encouraging investment in strategic sectors.
Donald Trump Tariffs Live Updates: Sensex, Nifty End Flat Amid Volatile Trade Ahead Of US Tariff Deadline
Sensex and Nifty closed almost flat on Monday amid volatile trading as investors stayed cautious ahead of the US tariff deadline on July 9. Gains in FMCG and oil shares were offset by losses in IT and metal stocks, while foreign fund outflows and weak Asian markets added to the uncertainty.
Trump Tariff News Live Updates: Markets Mixed, Dollar Gains As Trump’s Tariff Deadline Looms
Global stock markets moved in different directions on Monday, while the US dollar strengthened as trade tensions escalated ahead of President Donald Trump’s tariff deadline. Countries are scrambling to finalise trade agreements to avoid fresh US levies.
Oil prices edged higher despite a weekend decision by OPEC and its allies to raise production more than anticipated.
Trump Tariff News Live Updates: China Opposes Tariff Wars After Trump’s Threat To BRICS Nations
China on Monday responded to US President Donald Trump’s warning of an additional 10% tariff on countries supporting the BRICS nations. Foreign Ministry spokesperson Mao Ning said Beijing viewed BRICS as a positive force in the international community. “Its cooperation is open and inclusive, and not targeted at any particular country,” she said.
“As for tariffs, we have consistently opposed tariff wars and trade wars. We are against using tariffs as a tool for coercion and pressure. Arbitrarily imposing tariffs does not serve the interests of any party,” Ning added.
