President Donald Trump is done waiting it seems. Trump said his administration will start sending letters informing trading partners of their tariff rates as soon as Friday, as negotiations to avoid higher U.S. levies enter the final stretch.
“They’ll be fully covered and they’ll range in value from maybe 60 or 70% tariffs to 10 and 20% tariffs,” he said late Thursday. Trump told reporters that about “10 or 12” letters would go out Friday with additional letters coming “over the next few days.”
He said 10-12 countries will get letters on Friday and will range in value from 60%-70% and 10%-20%.
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U.S. tariffs on India have emerged as a major flashpoint in global trade policy under President Trump’s administration. In April, the U.S. imposed a sweeping 10% universal import tariff, followed by targeted tariffs of up to 26–27% on imports from countries with large trade surpluses, including India. These tariffs hit key Indian exports such as auto parts, textiles, jewelry, electronics, pharmaceuticals, and agricultural goods.
While these additional tariffs were temporarily suspended until July 9 to allow room for negotiations, the threat of full enforcement looms. India’s exports to the U.S. are projected to decline by around 6.4%, or approximately $5.8 billion with sectors like automotive, machinery, and steel among the hardest hit. Economists estimate a potential 30 basis point drag on India’s FY26 GDP growth, although the country’s domestic demand-driven economy offers some insulation.
Negotiations are ongoing, with both countries aiming to finalize a limited trade deal before the July 9 deadline. India has reportedly agreed to lower tariffs on U.S. goods worth around $23 billion, which account for over half of U.S. exports to India. However, sticking points remain, particularly over U.S. demands for access to India’s agricultural markets and India’s reluctance to cut tariffs on sensitive items like wheat, maize, and dairy.
A successful deal could de-escalate tensions and lift the looming tariffs, while failure could lead to a full reinstatement. The outcome will not only influence U.S.-India trade ties but could also set the tone for broader global trade dynamics in the second half of 2025.
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On Tuesday, Trump reportedly said the United States could reach a trade deal with India that would cut tariffs for both countries and help American companies compete in India’s market of 1.4 billion consumers.
These latest developments signal a significant turning point in U.S. trade policy under President Trump, with broad implications for America’s global economic relationships. The move to notify trading partners of steep upcoming tariffs, underscores a shift toward aggressive, unilateral action to reduce trade deficits and protect domestic industries. For countries like India, the stakes are high: unresolved negotiations could trigger a wave of costly tariffs that disrupt established trade flows and raise prices for consumers and businesses.
More broadly, the U.S. posture may prompt retaliation or recalibration among global trading partners, potentially straining diplomatic ties and weakening multilateral trade norms. While Trump argues this approach will strengthen American competitiveness and revive domestic manufacturing, critics warn it risks fragmentation of global supply chains and long-term economic instability. Whether this strategy yields favorable deals or ignites trade disputes will shape the future of international commerce in the years ahead.