Trump wants to send "probably twelve" letters to trade partners

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• Trump has signed letters to trading partners with new punitive tariffs of 10 to 70 percent.
• The tariffs are to apply from August and affect twelve countries.
• The aim is to enforce better trading conditions for the USA.

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A few days before the expiry of a deadline in the tariff dispute, US President Donald Trump has reportedly signed several letters addressed to US trading partners. "I have signed some letters and they will be sent out on Monday," Trump said on board Air Force One on Friday (local time).

There would be "probably twelve" letters. Which countries the letters will be sent to will be announced the same day, Trump said. "It's easier to send a letter that says, 'Look, we know we have some deficit, or, in some cases, a surplus, but not much. And here's what you have to pay to do business in the U.S.,'" Trump said.

"We did that with the United Kingdom and it was very good for both sides," Trump continued. "We did that with China and I think it's very good for both sides."

Tariffs of between ten and 70 percent

On Thursday, Trump announced that he wanted to inform his trading partners by letter about the punitive tariffs that would apply to them. He stated that the tariffs would amount to between ten and 70 percent. There is still no agreement between the EU and the USA in the tariff dispute.

Trump is systematically using tariffs to wring concessions from other countries in other areas too. At the beginning of April, he imposed high tariffs on numerous countries and then reduced them to ten percent for most countries for 90 days shortly afterwards. Negotiations are to be held during this period.

Deadline with Switzerland runs until July 9

The deadline for the EU and Switzerland expires on July 9, and for numerous other countries on July 8. The countries concerned are now trying to reach agreements with the USA in order to avert higher tariffs. US officials have signaled that several trade agreements could be announced in the coming days.

Trump announced a flat ten percent import tariff for Switzerland at the beginning of April. This was followed by country-specific surcharges, a whopping 21 percent for Switzerland. This additional levy was suspended for 90 days. An increased tariff of 25 percent applies to certain products such as cars, and 50 percent for steel and aluminum products.

Trump threatened the EU with tariffs of 50 percent if it does not reach an agreement with the USA by July 9, but also hinted at the possibility of extending the deadline. A 50 percent tariff would be five times the current ten percent - this basic tariff rate introduced by Trump for most goods is also already significantly higher than the previous tariff level.