- President Donald Trump stated Friday that his administration will inform some international locations inside just a few weeks of recent tariff charges that can be imposed on them. That comes after he hit U.S. buying and selling companions all over the world final month with “reciprocal” duties, then put them on a 90-day maintain per week later, permitting time to barter.
The U.S. cannot negotiate with all of the international locations that have been hit with tariffs, so some buying and selling companions will quickly discover out in a letter what price they may face, President Donald Trump stated.
Throughout a enterprise roundtable in Abu Dhabi on Friday, he recommended his administration will impose tariffs on sure international locations unilaterally, led by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.
“We have, at the same time, 150 countries that want to make a deal, but you’re not able to see that many countries,” Trump stated. “So at a certain point, over the next two to three weeks, I think Scott and Howard will be sending letters out, essentially telling people—we’ll be very fair—but we’ll be telling people what they’ll be paying to do business in the United States.”
That comes after he hit U.S. buying and selling companions all over the world final month with “reciprocal” duties, then put the steepest ones on a 90-day pause per week later for many international locations, permitting time to barter.
After the pause was introduced, Bessent stated Trump can be “personally involved” in tariff discussions to extract concessions, including “no one creates leverage for himself like President Trump.”
In the meantime, the U.S. reached a commerce deal final week with the UK and agreed with China over the weekend to briefly slash their respective duties, which topped 100% on each side.
The administration has additionally been saying that the U.S. is near a take care of about two dozen international locations, together with India, Japan, and South Korea, and officers have maintained {that a} 10% price is a baseline. U.S. Commerce Consultant Jamieson Greer was in South Korea this week for an Asia-Pacific Financial Cooperation ministerial assembly.
Trump’s indication that different international locations not at the moment in talks will as an alternative have a brand new price imposed on them in two to 3 weeks means it can come earlier than the 90-day pause expires in July.
“I guess you could say they could appeal it, but for the most part I think we’re going to be very fair, but it’s not possible to meet the number of people that want to see us,” Trump stated Friday.
The White Home did not instantly reply to a request for remark.
U.S. shares have been little modified on Friday after rallying earlier this week on hopes that de-escalation with China alerts a lighter contact on commerce.
It is unclear how strong Trump’s timeline of two or three weeks can be. On April 23, simply over three weeks in the past, he made an identical assertion about imposing new tariff charges.
“In the end, I think what’s going to happen is we’re going to have great deals, and by the way, if we don’t have a deal with a company or a country, we’re going to set the tariff,” he stated throughout an Oval Workplace ceremony. “I’d say over the next couple of weeks, wouldn’t you say? I think so. Over the next two, three weeks. We’ll be setting the number.”
This story was initially featured on Fortune.com
