The United States President Donald Trump during late Thursday evening said that his administration will start sending letters to countries starting Friday to identify the tariff rates they would face on imports to the United States.

US President Donald Trump will sign the 'One Big Beautiful Bill' on July 4, marking Independence Day. The bill includes tax cuts and defence and border security funding and was narrowly passed in both the House and Senate.

The bill encompasses Trump's domestic agenda, extending tax breaks to millions of American households and businesses that are projected to add trillions to the national debt.

The United States will place a lower-than-promised 20% tariff on many Vietnamese exports, Donald Trump said on Wednesday, cooling tensions with its tenth-biggest trading partner days before the U.S. president could raise levies on most imports.

Trump said the U.S. will impose a 20% tariff on Vietnamese exports to the U.S. Goods transshipped through Vietnam will get 40%.