U.S. President Donald Trump said he had signed letters to 12 countries outlining the various tariff levels they would face on goods they export to the United States, with the “take it or leave it” offers to be sent out on Monday.
Trump, speaking to reporters aboard Air Force One as he traveled to New Jersey, declined to name the countries involved, saying that would be made public on Monday.
“I signed some letters and they’ll go out on Monday, probably twelve,” Trump said, when asked about his plans on the tariff front.
He touched on that briefly late on Friday, telling reporters: “The letters are better … much easier to send a letter.”
He did not address his prediction that some broader trade agreements could be reached before the July 9 deadline.
U. S. According to President Donald Trump, he has signed letters to twelve nations detailing the different tariff levels they will be subject to on goods they export to the US. The “take it or leave it” offers are scheduled to be sent out on Monday.
In an interview with reporters on Air Force One during his visit to New Jersey, Trump said the nations involved would be revealed on Monday.
Though the date has since changed, Trump had earlier on Thursday informed reporters that he anticipated the first batch of letters to be sent out on Friday, a U.S. national holiday.
In an international trade war that has rocked financial markets and prompted lawmakers to rush to protect their economies, Trump in April announced a base tariff rate of 10 percent and additional rates for the majority of nations, some as high as 50 percent.
In order to give more time for negotiations to close deals, all base rates—aside from the 10 percent—were later suspended for 90 days.
The deadline is July 9; however, Trump stated early Friday that tariffs could be as high as 70%, with the majority taking effect on August 1.
According to Trump, when asked about his plans regarding tariffs, “I signed some letters and they’ll go out on Monday, probably twelve.”. Different sums of money and tariffs are involved. “.
At first, Trump and his top officials declared they would begin negotiating tariff rates with dozens of nations, but the U. S. . Following several setbacks with important trading partners, such as Japan and the European Union, the president has grown disillusioned with that process.
Late Friday, he mentioned that in passing, telling reporters, “The letters are better dot. A letter is much simpler to send. “..”.
His prediction that certain more comprehensive trade agreements could be reached prior to the July 9 deadline was left unspoken.
The change in the White House’s approach is a reflection of the difficulties in finalizing trade agreements on a variety of topics, including tariffs and non-tariff barriers like import restrictions on agricultural products, particularly on a shorter timeline.
Years of negotiations have been required to finalize the majority of previous trade agreements.
So far, the only trade agreements have been with Vietnam, which reduced tariffs on many Vietnamese goods to 20 percent from his previously threatened 46 percent, and Britain, which agreed in May to maintain a 10 percent rate and secure preferential treatment for certain industries, such as automobiles and aircraft engines. Lots of U. A. Vietnam would allow duty-free imports of goods.
In the absence of a deal with India, EU diplomats said Friday that they have not made progress in trade talks with the Trump administration and may now try to maintain the status quo in order to prevent tariff increases.
