Trump to send 'tariff letters' as Liberation Day looms
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The news: The US is on the verge of a trade assault on dozens of its closest allies, with President Donald Trump saying foreign countries will receive “tariff letters” on Monday.
The context: In a post on social media on Monday, Trump announced the letters would be dispatched on Monday evening, US time – when a three-month pause of his tariff regime expires.
It’s an apparent confirmation that Trump plans to push ahead with his so-called Liberation Day, which will see the US slap tariffs on most foreign countries.
Trump delayed the implementation of the tariff regime to allow for bespoke trade negotiations with individual countries, announcing a deal with UK Prime Minister Keir Starmer last month.
But with that pause set to expire on Monday, Australia looks set to receive a 10% universal tariff on all of its products, the lowest rate meted out by the Trump administration.
Key stumbling blocks in any trade talks have been the future of Australia’s Pharmaceutical Benefits Scheme, which hinders US companies, and biosecurity laws hampering American beef exports.
Australia views both as non-negotiables.
Prime Minister Anthony Albanese has described the tariffs as an act of “self-harm” and declined to implement retaliatory measures. There is a deep scepticism that Australia will be able to secure an exemption, given Trump’s apparent determination to enforce a sweeping tariff regime.
Albanese is yet to meet his US counterpart face to face, though speculation is mounting that that could change when he travels to the Quad Leaders Summit in India towards the end of this year.
What they said: “I am pleased to announce that the UNITED STATES TARIFF Letters, and/or Deals, with various Countries from around the World, will be delivered starting 12:00 P.M. (Eastern), Monday, July 7th. Thank you for your attention to this matter!" Trump posted on Truth Social.
The source: Donald Trump's Truth Social
