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| Trump says US will unilaterally set new tariff rates for scores of countries | |
| (33 minutes later) | |
| President says letters revealing rates will be sent out within weeks as Washington lacks capacity for individual deals | |
| Donald Trump has said the US will send letters to some of its trading partners to unilaterally impose new tariff rates, suggesting that Washington lacks the capacity to reach individual trade deals. | Donald Trump has said the US will send letters to some of its trading partners to unilaterally impose new tariff rates, suggesting that Washington lacks the capacity to reach individual trade deals. |
| Highlighting the challenge for the White House to negotiate deals with scores of countries at once, Trump said it was “not possible to meet the number of people that want to see us”. | |
| Speaking at a meeting with business leaders in the United Arab Emirates on the US president’s tour of the Gulf, he said: “We have, at the same time, 150 countries that want to make a deal, but you’re not able to see that many countries.” | Speaking at a meeting with business leaders in the United Arab Emirates on the US president’s tour of the Gulf, he said: “We have, at the same time, 150 countries that want to make a deal, but you’re not able to see that many countries.” |
| The president said that his treasury secretary, Scott Bessent, and the commerce secretary, Howard Lutnick, would be “sending letters out essentially telling” some of Washington’s trading partners what tariff rates would be imposed on their goods exports to the US market. | The president said that his treasury secretary, Scott Bessent, and the commerce secretary, Howard Lutnick, would be “sending letters out essentially telling” some of Washington’s trading partners what tariff rates would be imposed on their goods exports to the US market. |
| “At a certain point over the next two or three weeks, I think Scott and Howard will be sending letters out essentially telling people – it will be very fair – but we’ll be telling people what they’ll be paying to do business in the United States,” he said. | “At a certain point over the next two or three weeks, I think Scott and Howard will be sending letters out essentially telling people – it will be very fair – but we’ll be telling people what they’ll be paying to do business in the United States,” he said. |
| Trump’s comments expose the difficulty of the task the president set for his administration after imposing sweeping border taxes on goods imports from all of the US’s trading partners on his 2 April “liberation day”. | Trump’s comments expose the difficulty of the task the president set for his administration after imposing sweeping border taxes on goods imports from all of the US’s trading partners on his 2 April “liberation day”. |
| Washington has withdrawn some of its toughest measures after a backlash in the bond markets, including pausing “reciprocal” tariff rates on many trading partners, including the EU, striking a trade deal to lower tariffs with the UK, and agreeing a 90-day pause with China. A 10% universal tariff on all imported foreign goods remains. | Washington has withdrawn some of its toughest measures after a backlash in the bond markets, including pausing “reciprocal” tariff rates on many trading partners, including the EU, striking a trade deal to lower tariffs with the UK, and agreeing a 90-day pause with China. A 10% universal tariff on all imported foreign goods remains. |
| Earlier this week Trump hailed a “total reset” in relations between China and the US after the countries agreed the pause, which included Beijing lowering its duties on US goods to 10%, while the US tax on Chinese goods will be lowered to 30%. | Earlier this week Trump hailed a “total reset” in relations between China and the US after the countries agreed the pause, which included Beijing lowering its duties on US goods to 10%, while the US tax on Chinese goods will be lowered to 30%. |
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| The White House has signalled it is prioritising talks with dozens of the US’s largest trading partners, including India, South Korea and Japan, while negotiations with the EU are ongoing. | The White House has signalled it is prioritising talks with dozens of the US’s largest trading partners, including India, South Korea and Japan, while negotiations with the EU are ongoing. |
| However, his comments suggest Washington lacks the bandwidth to negotiate with hundreds of countries at once, while indicating that the president will instead push to dictate terms. | However, his comments suggest Washington lacks the bandwidth to negotiate with hundreds of countries at once, while indicating that the president will instead push to dictate terms. |