Trump ends tariff talks for most nations
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.
Admin | 2025-05-16 20:55:19