𝗔𝗦 "𝟵𝟬 𝗖𝗢𝗨𝗡𝗧𝗥𝗜𝗘𝗦 𝗜𝗡 𝟵𝟬 𝗗𝗔𝗬𝗦" 𝗙𝗟𝗢𝗣𝗦, 𝗧𝗥𝗨𝗠𝗣'𝗦 𝗡𝗢𝗪 𝗦𝗘𝗡𝗗𝗜𝗡𝗚 𝗟𝗘𝗧𝗧𝗘𝗥𝗦 𝗔𝗦𝗞𝗜𝗡𝗚 "𝗣𝗥𝗘𝗧𝗧𝗬 𝗣𝗟𝗘𝗔𝗦𝗘?"

       

Donald Trump's "90 countries in 90 days" plan to implement tariffs has flopped as he's only reached agreements with three countries; China, the UK and Vietnam.  Now, Trump says he will begin sending letters to the rest of the countries informing them how much it will cost to do business with the United States.

The announcement of Trump's letter writing campaign was made Thursday aboard Air Force One almost like the President was ordering room service.  All he said was: “We’re probably going to be sending some letters out, starting probably tomorrow.”  

Markets reacted accordingly. European equities dipped, and U.S. futures slipped, as traders remembered that the trade war isn’t quite dead, just dormant, waiting on Trump to mail out invitations. 

Trump said the new tariffs, or “reciprocal trade rates” as he’s branding them this season, could range from a modest 10% to a walloping 70%, effective August 1. 

Which countries are on the naughty list? The administration isn’t saying yet. But countries like South Korea and Thailand are reportedly scrambling to offer last-minute trade concessions, perhaps hoping to get a kindly tariff.  

Meanwhile, investors are left guessing just how serious Trump is this time. The Vietnam deal, struck recently, set a 20% rate, twice the average, but far less than what was initially floated, meaning that Trump's tariff numbers are just estimates. 

The Letter

Gimme a ticket for an aeroplane

Ain't got time to take a fast train

Lonely days are gone, I'm a-goin' home

My baby, just a wrote me a letter

I don't care how much money I gotta spend

Got to get back to my baby again

Lonely days are gone, I'm a-goin' home

My baby, just-a wrote me a letter

Well, she wrote me a letter

Said she couldn't live without me no more

Listen mister, can't you see I got to get back

To my baby once-a more

Anyway, yeah

Gimme a ticket for an aeroplane

Ain't got time to take a fast train

Lonely days are gone, I'm a-goin' home

My baby, just-a wrote me a letter

Well, she wrote me a letter

Said she couldn't live without me no more

Listen mister, can't you see I got to get back

To my baby once-a more

Anyway, yeah

Gimme a ticket for an aeroplane

Ain't got time to take a fast train

Lonely days are gone, I'm a-goin' home

My baby, just-a wrote me a letter, my baby just-a wrote me a letter

(Wayne Carson Thompson, sung by The Boxtops)