Washington will inform 150 countries of updated tariff rates with the US by post within the coming weeks, US President Donald Trump announced on Friday. It is no longer feasible to meet individually with every country seeking a trade agreement, he explained.
On April 2, dubbed by the US president as ‘Liberation Day’, the White House imposed a baseline 10% tariff on all imported goods and additional surcharges on countries such as China, Mexico and Canada citing trade imbalances.
The US president indicated at the time that the White House would negotiate individual deals with all its trade partners in the following weeks, but he has now suggested that the administration will set terms unilaterally.
Speaking at a business roundtable in Saudi Arabia on Friday, Trump stated that the US will impose new tariff rates “over the next two to three weeks.” Washington had been approached by a large number of governments requesting individual deals but, Trump stressed, “it’s not possible to meet the number of people that want to see us.”
“[W]e have, at the same time, 150 countries that want to make a deal,” he said.
Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick would be responsible for sending out letters detailing the new tariff rates that will apply to each country, Trump said.
The new rates “would be very fair, but we’ll be telling people what they’ll be paying to do business in the United States.”
Major US retailers such as Walmart and Target have said they plan to raise prices in response to the rising cost of imports. Trump has dismissed the concerns, claiming any price hikes will be small and that businesses will adapt by shifting their supply chains.
The White House has not yet disclosed the content of the letters or the exact rates that will be applied. It is also unclear whether countries will be given a timeline or conditions under which the rates could change.
Daily Telegraph New Zealand (DTNZ) is an independent news website, first published in October 2021. - where this article was sourced.
The US president indicated at the time that the White House would negotiate individual deals with all its trade partners in the following weeks, but he has now suggested that the administration will set terms unilaterally.
Speaking at a business roundtable in Saudi Arabia on Friday, Trump stated that the US will impose new tariff rates “over the next two to three weeks.” Washington had been approached by a large number of governments requesting individual deals but, Trump stressed, “it’s not possible to meet the number of people that want to see us.”
“[W]e have, at the same time, 150 countries that want to make a deal,” he said.
Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick would be responsible for sending out letters detailing the new tariff rates that will apply to each country, Trump said.
The new rates “would be very fair, but we’ll be telling people what they’ll be paying to do business in the United States.”
Major US retailers such as Walmart and Target have said they plan to raise prices in response to the rising cost of imports. Trump has dismissed the concerns, claiming any price hikes will be small and that businesses will adapt by shifting their supply chains.
The White House has not yet disclosed the content of the letters or the exact rates that will be applied. It is also unclear whether countries will be given a timeline or conditions under which the rates could change.
Daily Telegraph New Zealand (DTNZ) is an independent news website, first published in October 2021. - where this article was sourced.
4 comments:
So much for all those trade deals Trump was going to do. They ain't going to happen. Just like Mexico was going to pay for the wall. Even the two that have emerged with the UK and China aren't actually deals - just announcements that a deal is being worked on. And in the case of the UK, that's been on the go since the US promised to be first on in the line for a trade agreement after BREXIT, so is hardly a triumph of Trumpian negotiation skills. Even more so now it appears, following the Liberation Day debacle, British cars will get better tariff treatment in the US than domestically built cars. Still I suppose that's one way to make America Great Again. Let them drive Range Rovers.
The last US false prophet predicting the end of the free world was Al Gore
It would be wise to reflect on what happened to him before rushing to predict Trump’s downfall.
Come back in a month or so when all the deals, including those with China, Russia, Iran and Hamas have been signed and the world is a safer place for all its inhabitants.
Bad timing Mr Bibby. Your hero has just admitted there are no trade deals to finalise. But he is going to send a letter to somebody in each country telling them what America expects. Thats not a deal.That's an ultimatum. And the UK deal is not a deal. It's an announcement about the outline of a deal. It's been a work in progress since BREXIT. And the China agreement is not a deal. It's China forcing Trump to back down and repair the damage he's caused. The world can see through Trump's total failure to grasp reality. Why can't you Mr Bibby?
I’ll debate my credibility with you when you come out from behind your cloak of anonymity.
Nobody takes your claims seriously when they have no background in fact - a total delusion from one suffering from TDS.
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