President Trump has sent letters to 14 countries outlining their updated tariff rates, and additional notifications are on the way.
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“As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025,” said Trump in a Truth Social post on Tuesday.
Of the 14 letters, nine were sent to countries in Asia. Key U.S. trading partners India, Singapore, and the Philippines have not yet received a letter.
Trump Solidifies August 1 Deadline
Trump had previously set the reciprocal tariff pause deadline to July 9, although he extended the deadline to August 1 amid a scarcity of completed trade deals. “No extensions will be granted,” said Trump in regard to the new deadline.
So far, the U.S. has signed trade agreements with the United Kingdom, China, and Vietnam.
According to TipRanks’ Trump Dashboard, the Industrial Select Sector SPDR Fund (XLI) and the Consumer Discretionary Select Sector SPDR Fund (XLY) will likely be affected by Trump’s hard deadline.
