US President Donald Trump says tariff letters to 12 countries signed, going out Monday - Reuters

FXStreetJul 7, 2025 12:20 AM

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US President Donald Trump said on Saturday that he had signed letters to 12 countries outlining the various tariff levels they would face on goods they export to the United States, with the “take it or leave it” offers to be sent out on Monday, per Reuters.

Trump didn't say which nations would be targeted, or what rates would be set. However, he said on Thursday that the rates in the letters would go into effect August 1 and warned some could be as high as 70%.

Market reaction

At the time of press, the Gold price (XAU/USD) is trading 0.03% lower on the day to trade at $3,333.

Reviewed byJane Zhang

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