Trump says US will start sending tariff cards to other states

The US government will start sending letters to countries with details on the highest rates of US tariffs to begin on August 1st, US President Donald Trump said.

Between 10 and 12 letters will be sent Friday, and more during the following days, the president told reporters.

Import duties will range from “to 60% to 70% tariffs to 20%<181>, he said, whose maximum limit is higher than he previously determined.

Trump has set a deadline until July 9th for negotiations on import tax rates, while countries try to reach agreement.

He has earlier said there will be a basic 10% fee for many economies by a maximum of 50%, writes BBC, broadcast Periscope.

Trump did not say that goods whose countries will face American taxes, or whether tariffs will be applied only to certain goods.

My theme is to send a letter and say what fee they will pay”, he told reporters Thursday. It's just a lot easier. ”

He added: “We'll send some letters, probably starting tomorrow. ”

The tariffs are taxes imposed on goods entering a country paid by the importer.

Those firms may choose to cope with higher costs, but eventually they will likely outdo it to American consumers.

The idea is to have more money flowing into the American government, and also to become the most expensive foreign goods, thus increasing the demand for goods produced in the US./Periscope