United States President Donald Trump on Saturday said that his administration is immediately sending letters to the first batch of 10 to 12 countries, sharing details of reciprocal tariff rates and the entire process could be completed by July 9.
His comments came amid increasing suspense in India on whether New Delhi and Washington would be able to firm up a much-anticipated trade deal before the US president's tariff deadline ends.
"We are going to start sending letters out to various countries starting tomorrow," Trump told reporters at Joint Base Andrews air base in Maryland before departing to Iowa.
The US president said letters are going out to 10 to 12 countries, and the process could be completed by July 9. The US president, however, did not name the countries.
There have been speculations that the US may firm up a number of trade agreements before July 9, the broad timeline that he set while announcing a 90-day reprieve in April for settling trade.
Trump suggested that the letters would explain what the countries are going to be paying in tariff to the US.
The president said the reciprocal tariffs would come into effect from August 1.
"The money is going to come to the United States from August 1," he added.
The US president said the lower limit in tariff could be in the range of 10 to 20 per cent and the higher bracket would be in the range of 60 or 70 per cent.
The status of negotiations between India and the US on the proposed trade deal is not immediately clear. -- PTI
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