US President Donald Trump's BIG statement on tariff letters for 12 countries, says 'Take it or leave it...'

US President Donald Trump has announced that he had signed letters addressing 12 countries, informing them of their tariff rates on goods exported to the United States. Describing them as "take it or leave it" offers, Trump said the letters would be sent out on Monday, i.e., July 7. 

Speaking to reporters aboard Air Force One en route to New Jersey, the US President made the remarks without naming the countries, adding that the same would be disclosed on Monday itself. "I signed some letters and they will go out on Monday, probably 12. Different amounts of money, different amounts of tariffs."

Earlier, Trump had said that the first batch of letters would be sent out on Friday, i.e., July 4—a national holiday in the US. However, the timings were later revised. 

So far, Washington has concluded agreements with just two countries—the United Kingdom and Vietnam. While the UK secured a deal to maintain the 10 per cent base rate, Vietnam bagged a deal, reducing the tariff rates to 20 per cent, down from a proposed 46 per cent. Meanwhile, negotiations with India have yielded no results. 

Reciprocal tariffs 

In April, Donald Trump announced a base 10 per cent tariff on goods reaching the US from almost all trading partners, with the possibility of higher rates upto 50 per cent on some countries. However, later, the US president halted the move until July 9, allowing countries to reach out for trade talks. 

On Tuesday, Trump also said that he does not plan to extend the pause on tariffs beyond July 9. "I'm not thinking about a pause," he said, when asked by a reporter if he was considering extending the breathing room. "Some countries, we won't even allow to trade. But for the most part, we're gonna determine a number," he added, referring to the tariff rate.

With inputs from ANI