- “The letters are better (…) much easier to send letters,” says Trump.
- The American president says that pricing letters will be sent on Monday.
- He warns that tAriffs could be even higher – up to 70%.
US President Donald Trump said he had signed letters to 12 countries describing the different rate levels they would face on the goods they exported to the United States, with “taking or leaving” offers on Monday.
Trump, addressing journalists on the Air Force One while going to New Jersey, refused to appoint the countries involved, saying that it would be made public on Monday.
Trump had previously told journalists he expected to have a first share of letters will be released on Friday, a national holiday in the United States, although the date has changed now.
In a world trade war that overthrew the financial markets and launched a race among political decision -makers to keep their savings, Trump in April announced a basic rate rate of 10% and additional amounts for most countries, some reaching 50%.
However, all basic rates except 10% were subsequently suspended for 90 days to give more time to negotiations to obtain transactions.
This period ends on July 9, although Trump early Friday said that prices could be even higher – up to 70% – most of them being ready to enter into force on August 1.
“I signed letters and they will go out on Monday, probably twelve,” said Trump, questioned on his plans on the pricing front. “Different amounts of money, different amounts of prices.”
Trump and his best employees initially declared that they would launch negotiations with dozens of countries on prices, but the American president embellished this process after repeated setbacks with major business partners, including Japan and the European Union.
He approached this briefly late Friday, telling journalists: “The letters are better (…) much easier to send a letter”.
He did not respond to his prediction that certain broader trade agreements could be concluded before the deadline of July 9.
The change in the White House strategy reflects challenges to conclude trade agreements on everything, from rates to non -tariff obstacles such as prohibitions on agricultural imports, and in particular on an accelerated calendar.
Most previous trade agreements have taken years of negotiations to finish.
The only trade agreements concluded to date are with Great Britain, which has concluded an agreement in May to maintain a rate of 10% and have obtained a preferential treatment for certain sectors, including automotive and planes engines, and with Vietnam, which has reduced prices on many Vietnamese products to 20% of its 46% previously threatened. Many American products would be allowed to enter the franchise of Vietnam rights.
An agreement planned with India has failed to materialize and EU diplomats said on Friday that they had not managed to break through in commercial negotiations with the Trump administration and could now seek to extend the status quo to avoid increases in prices.