Trump says tariffs set to rise as high as 70%: White House to begin sending notices to countries; businesses await announcements

US President Trump is reinstating tariffs, paused for 90 days, as deals with various countries remain elusive. Letters will be sent to nations, outlining tariffs ranging from 10% to potentially 70%, effective August 1st. While some countries like China, Britain, and Vietnam have reached agreements, negotiations with others, including the EU and Japan, are ongoing.