The president said of the plans: "Different amounts of money, different amounts of tariffs and somewhat different statements."

President Donald Trump is set to send “take-it-or-leave-it” tariff warning letters to 12 nations as trade talks stall and a July 9 deadline looms. The White House confirms tariffs could rise to as high as 70% if no deals are reached.

Acknowledging the complexity of negotiating with over 170 nations, Trump told reporters before departing for Iowa on Thursday that the letters will be sent to 10 countries at a time, laying out tariff rates such as 20% to 30%. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here.