Trade War Escalates: Trump's "Take It or Leave It" Tariffs

Money Explainers

6/7/2025

President Donald Trump is shaking up global trade with a bold move. He's sending "take it or leave it" letters to 12 countries, detailing the new tariff levels they'll face on goods exported to the United States.
#TrumpTariffs #GlobalTradeWar #TakeItOrLeaveIt

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00:0012 Countries to Receive Tariff Letters from Trump President Donald Trump

00:04announced his intention to send letters to 12 countries detailing the tariff levels they

00:09would face on goods exported to the United States. These letters are described as take-it-or-leave-it

00:14offers. Although initially expected to be sent on a Friday, a U.S. national holiday,

00:20the timeline shifted, and Trump stated they would be sent out on a Monday.

00:24These planned letters come amidst a global trade war that has disrupted financial markets.

00:30Earlier in April, Trump had announced a 10% base tariff rate and additional tariffs for most

00:35countries, with some potentially as high as 50%. Following repeated difficulties with major

00:41trading partners such as Japan and the European Union, Trump himself commented that the letters

00:46are better, much easier to send a letter, suggesting they might try to extend current

00:50terms to avoid tariff increases. This strategy also highlights the difficulty of securing comprehensive

00:56trade deals, which cover both tariffs, and non-tariff barriers like agricultural import bans and a

01:03compressed timeline, as most such deals have historically taken years to negotiate.

01:09However, tariffs above the 10% base were suspended for 90 days to allow time for negotiations.

01:16This suspension period was set to end on July 9. Trump also indicated that tariffs could rise even

01:21further, up to 70% with most expected to take effect on August 1. He mentioned that the letters would

01:28outline different amounts of money, different amounts of tariffs. The administration's shift to

01:34this take-it-or-leave-it approach via letters reflects Trump's disillusionment with traditional

01:40negotiation methods. As of the available information, the only finalized agreements concerning these tariffs

01:46are with Britain, in May. Britain secured a deal to maintain a 10% tariff rate and gained preferential

01:52terms for sectors such as automobiles and aircraft engines. Vietnam. Vietnam will see tariffs on many

02:00of its exports cut to 20% from the previously threatened 46%, while many US goods will enter Vietnam

02:07duty-free. However, a deal with India had not materialized, and EU diplomats indicated they had not

02:13reached a breakthrough in talks with the Trump administration, suggesting they might try to extend

02:18current terms to avoid tariff increases. Money expires.

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