President Donald Trump has abandoned traditional bargaining in favor of a two-pager ultimatum, sending more of his tariff letters to more countries.
“A letter means a deal,” he told reporters, adding that some of the documents dispatched this week carry tariff rates “at 60%, 70%—maybe higher.”
Treasury Secretary Scott Bessent confirmed the administration’s unilateral posture, saying “about 100” countries “never even contacted us” during the 90-day pause that ends today. Those states, he warned, will still confront an automatic 25% duty on 1 August, and could be on top of the 10% baseline rate imposed in April.
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Trump told Cabinet members he is “probably two days off” from mailing a tariff schedule to EU; the White House has threatened duties of up to 50% if the bloc refuses to sign.
The latest wave of letters lists double-digit levies for 14 countries: Cambodia (36%), Bangladesh (35%), Serbia (35%), Bosnia-Herzegovina (30%), Indonesia (32%), Tunisia (25%), and Kazakhstan (25%). Japan (25%) and South Korea (25%) also received their letters despite their existing trade pacts with Washington. Laos and Myanmar drew 40% tariffs, while select imports of copper now face a potential 50% surcharge, a move that has already pushed domestic prices to record highs.
Economists see broader damage as they argue that floating rates “as high as 40% to even 100%” has normalized a still punishing 25% hike and created “one of the most aggressive and disruptive tariff moves in modern history.”
Bessent insists the pain will pay: customs receipts could top $300 billion this year, he claims, dwarfing the $98 billion collected in all of 2024. The Congressional Budget Office forecasts $2.8 trillion in tariff revenue over a decade, yet the Treasury chief calls that “probably low,” signaling room for still higher rates. 
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