Trump says US will send letters setting tariff rates to trading partners

News Snapshot:

Donald Trump has said that the US will start sending out letters to trading partners on Friday setting tariff rates that countries will have to pay from the beginning of next month. The US president told the media that about “10 or 12” letters would be sent out initially, with further letters sent out over the “next few days”. His administration is expected to write to all of its trading partners without a deal in place before 9 July, the end of a 90-day pause on Trump’s “reciprocal tariffs”. “I think by the ninth they will be fully covered,” he...