Trump vows tariff hikes of up to 70%, says nations will 'start to pay' in August
Friday, 4 July 2025 () Donald Trump stated that "10 or 12" letters would be sent out on Friday, with others to follow, ahead of a 9 July deadline for countries to strike deals and avoid higher import costs.
Trump has declared that Iran’s nuclear program is “dead” following a series of military strikes targeting uranium enrichment sites. Speaking at a packed rally, Trump vowed that Tehran would never be allowed to restart its nuclear ambitions under any circumstances. The remarks come amid rising tensions in the Middle East, with Iranian officials promising retaliation.
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President Donald Trump is set to send “take-it-or-leave-it” tariff warning letters to 12 nations as trade talks stall and a July 9 deadline looms. The White House confirms tariffs could rise to as high as 70% if no deals are reached. With only the UK and Vietnam finalizing limited agreements, Trump is abandoning talks in favor of direct ultimatums. Allies are stunned, and global markets brace for a trade shock that could disrupt supply chains and trigger economic retaliation.
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