President Trump announced in Abu Dhabi that the White House will soon unilaterally issue tariff rates for various countries, citing the time-consuming nature of individual negotiations. He mentioned there are 150 countries interested in making trade deals, suggesting ongoing communication from his administration to inform these countries of their respective tariffs for doing business in the U.S. While previous tariffs were enacted as a strategy, negotiations with the UK and China have yielded some adjustments to rates, opening up new trade opportunities.
"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 said at a business roundtable in Abu Dhabi.
'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.'
The president first issued major tariffs on April 2 as a part of his 'Liberation Day' tariffs, jacking up rates on countries at levels proportional to what his administration deemed appropriate, given their rates on the US.
Since, the White House has negotiated deals with the UK - leaving the 10% tariff and opening up the agriculture market for the US - and China, which lowered the US rate on Beijing to 30%, and got the Chinese rate down to 10%.
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