Former President Trump has announced plans to raise tariffs as high as 70% on certain countries, beginning a systematic notification process to trade partners. Letters outlining new tariff rates are set to be sent out, with expectations of a significant impact on global markets. As the July 9 deadline for a tariff pause approaches, Trump has indicated he will not extend this hiatus, raising concerns about a potential trade war flare-up. Experts warn that with this looming deadline and negotiations stalling, trade partners are bracing for increased tariffs that could affect international trade relations, particularly with Europe, Canada, and other nations.