Trump says that tariffs are ready to grow up to 70%: to start sending notices to the White House countries; Wait for business announcements

US President Donald Trump said on Friday morning that he planned to bring back a set of tariffs for the first time in April. They had stopped them for 90 days to try and make deals with various countries, but most of them have not yet physicized. Now, American businesses do not know what tariffs they have to pay on many imported goods.Some new tariffs can also be higher than the original people.Trump spoke briefly to reporters at Andrews Air Force Base after returning from a rally in Iowa on Thursday.“So we are going to start sending letters to various countries starting from tomorrow,” he said, just a few hours after passing a major domestic policy bill of the House. “They will probably be in price from 60 or 70 percent tariffs to 10 and 20 percent tariffs.”He said that his administration will continue to send more letters to the countries every day till the end of the 90-day break. Till then, they hope that all countries will be included. He said that small countries would be contacted, and the US would start collecting tariffs on 1 August.Trump said, “This is a lot of money for the country, but we are giving them a deal.” “We have finalized, and it is basically going to explain what the countries are going to pay in tariffs.”The original set of “mutual” tariffs was placed on US trading partners and the Congo ranged from 11 percent to Lesotho for the democratic Republic. These tariffs were calculated using a formula, which every country buys from America, even though the country was very small and did not do much business. These mutual tariffs were 10 percent of the “baseline” tariffs which applied to all countries.A few days later, Bond Market strongly reacted to the apprehension that global trade could come to a stop, President Trump changed his mind. For all countries except China, tariffs were reduced by 10 percent, with its base tariff increased by 145 percent.Since then, the country has been running to deal with the White House to bring more stability to its trade relations with the US. China reached a temporary deal that brought its tariff down to 30 percent. Britain signed an agreement to keep its duties at 10 percent in early May. And this week, Vietnam agreed to a plan, which would determine its tariffs at 20 percent, with high taxes on the Chinese goods passing through the country.However, talks with other countries including Japan, Malaysia, India and the European Union have not yet progressed much. Some of which Trump has said that he says “driving very hard for a bargaining” including the European Union and Japan.On Thursday, Treasury Secretary Scott Besant said that he thought that about 100 countries would finish at least 10 percent with tariff rates, but more deals are still being worked. “I think we are going to see a lot of action in the coming days,” he said. Last week, Besent mentioned that some talks may continue till 1 September.