Speaking to reporters on 15/7 after returning from an event in Pittsburgh, President Donald Trump expressed satisfaction with the "simple agreements" announced in tariff letters the previous week. He stated that tariff rates for remaining countries would be announced soon.

"We will be sending out a letter, very shortly, to countries that do far less business with us. We'll probably have a common rate for them, something like a little bit more than 10%," he said.

Containers at the Port of Los Angeles (USA) on 5/5. Photo: Reuters

Containers at the Port of Los Angeles (USA) on 5/5. Photo: Reuters

The US began sending tariff notification letters to trade partners on 7/7. So far, 26 countries have been notified of new import tariffs on goods sold to the US, effective 1/8. The new rates range from 19% to 50%, mostly equal to or similar to those announced on 2/4. Currently, these countries face a 10% tariff on goods sold to the US.

Previously, US officials pledged to complete "90 deals in 90 days." However, to date, agreements have only been announced with Indonesia, the UK, China, and Vietnam. On 3/7, President Trump acknowledged the complexity of negotiating with over 170 countries. He prefers most economies simply receive notification letters, bypassing detailed negotiations.

Also on 15/7, the Office of the US Trade Representative announced a new tariff investigation into Brazil, concerning practices Washington deems unfair. The Trump administration accuses Brazil of discriminating against US technology companies.

Trump foreshadowed this move last week in a tariff letter to Brazil. The South American nation faces a 50% tariff from 1/8, due to technology-related issues and the trial of former President Jair Bolsonaro, whom Trump believes is being treated unfairly.

Ha Thu (Reuters, CNBC)