President Trump said his administration will begin notifying several of its trading partners of unilateral tariffs as high as 70%, escalating trade tensions as markets closed for the July 4 holiday. “We’re going to start sending letters out to various countries starting tomorrow,

Duties on imports from dozens of countries would jump if the 90-day pause imposed in April expires July 9 as scheduled.

Global shares mostly fell even as U.S. stocks climbed further into record heights as the clock ticks on President Donald Trump’s July 9 tariff deadline