Donald Trump announced that the US will unilaterally impose new tariff rates on certain trading partners, as negotiating individual deals with 150 countries is impractical. During a meeting with business leaders in the UAE, he highlighted the challenges of managing such extensive trade relations. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick will send out letters outlining the new tariff rates for exports to the US. Despite initial sweeping tariff measures, the US has softened its stance by agreeing to tariff pauses with the EU, UK, and China, indicating a strategic shift in trade relations.
President Trump stated that the US will send letters to trading partners to unilaterally impose new tariff rates, highlighting Washington's challenge in negotiating individual trade deals.
Speaking in the UAE, Trump acknowledged that the US has 150 countries wanting trade deals, but meeting with all is unfeasible, which prompts the new approach to tariffs.
Trump mentioned that Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick will inform countries about new tariff rates, aiming for fairness in trade negotiations.
The president noted that a total reset in US-China relations is underway after an agreement to pause reciprocal tariffs, emphasizing cooperation amid trade tensions.
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