<ul data-eligibleForWebStory="false">Trump plans to notify countries of US tariffs up to 70% effective Aug. 1.The new tariff rates will range from 60% to 70% for certain countries.Stocks drop as Trump's tariff threat impacts global markets and inflation risks rise.US has secured deals with UK, Vietnam, and truces with China amidst ongoing negotiations.Trump aims for simple tariff deals while expressing optimism with India but tension with Japan.