Trump to send tariff letters to 10-12 countries tomorrow

Washington: US President Donald Trump said on Saturday that his administration is immediately sending letters to the first batch of 10 to 12 countries, sharing details of mutual tariff rates and the entire process could be completed by 9 July.“We are going to start sending letters to various countries starting tomorrow,” Trump asked reporters at the United base Andrews Air Base in Maryland before going to Iowa. However, the US President did not name countries. The President said that mutual tariffs would be applicable from August 1. “Money is going to come to the United States from 1 August,” he said.Trump suggested that the letters would explain what the country is going to pay for the US in tariffs. He said that the low range in tariffs may be in the range of 10-20% and the high bracket would be in the limit of 60–70%.Meanwhile, Japan’s Chief Trade Dialogist Rioswa Akajwa held two phone meetings with US Commerce Secretary Howard Lutnik, which discusses the tariff on July 9 as a time limit of 9 July for the High Levy. According to a statement by the Secretariat of the cabinet of Japan, Akazwa and Lutynik spoke for 45 minutes on Thursday and about an hour on Saturday and re -confirmed their respective positions on the US tariff and “instilled in depth of ideas.” Both sides will continue to coordinate, read the statement.Vietnam’s growth rose in the second quarter as foreign buyers raced to avoid tariffs threatened by 46% on sale of US. According to data from the National Statistics Office in Hanoi on Saturday, GDP increased by 7.96% in the April-June period from a year ago. This is faster than an eight.85% average estimate in the Bloomberg survey of eight economists, and a modified 7.05% expansion in the first quarter.