Pakistan, July 5 -- US President Donald Trump revealed on Friday that he had signed 12 trade-related letters to be sent out on Monday. These letters will notify specific countries about new US tariffs set to take effect on July 9. Trump made the announcement while speaking to reporters aboard Air Force One on his way to New Jersey.

The upcoming tariffs-ranging between 10% and 70%-will impact dozens of economies including Taiwan and the European Union. Trump introduced these duties back in April, initially applying a flat 10% to most trade partners. He then delayed the hike to July to give countries a chance to negotiate fairer terms.

One of those countries, Pakistan, completed urgent trade talks with the US just before the deadline. Led...