Donald Trump Say him on Sunday administrative Scheme to send letters to U.S. trading partners starting Monday, deciding on new tariff The rate charged for goods sold to Americans. President: “Maybe 12, maybe 15.” Tell reporters“And we have a deal, so we will combine some letters and some deals.”
And his Previously announced Officially to pause for a 90-day pause in tariffs ending on July 9, the president was asked whether the new rates will take effect this week or on August 1, as some officials have suggested.
“No, they will be tariffs, tariffs, tariffs will be tariffs, tariffs” The President begins“I think we’ll finish most countries by July 9, yes. Either a letter or a deal.”
His Commerce Secretary Howard Lutnick felt confused and jumped out: “But they will take effect on August 1. tariff Effective on August 1, but the president is setting interest rates and transactions. ”
Trump has Announce The base tariff rate for most countries is 10% and additional duties are as high as 50%, although he later postponed the effective date for everyone until July 9. The new August 1 date provides the country with another three weeks of probation, but also puts importers in long-term uncertainty.
U.S. Treasury Secretary Scott Bessent told CNN’s trade agreement earlier Sunday that it could appear in the next few days, noting that the EU has made good progress in negotiations.
He said Trump will also send letters to 100 smaller countries where the U.S. does not have much trade and notify them that they will face higher tariffs for the first time on April 2, and then suspend until July 9.
“President Trump will send letters to some of our trading partners saying that on August 1, you will be boomerang back to the April 2 tariff levels. So, I think we will see a lot of deals soon,” Bessent told CNN.
Trump has triggered Global Trade War That’s Rotten financial markets and send policy makers to scramble to protect their economy, including deals with the United States and other countries.
Kevin Hassett, who heads the White House National Economic Commission, told CBS there could be room for swinging for serious negotiations. “There are deadlines, some things are close, so maybe things will be postponed to the deadline,” Hassett said, adding that Trump would decide whether that would happen.
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