Tariff letters to 12 countries going out Monday: Trump
US President Donald Trump signed letters summarizing the various tariff levels they will encounter with the goods they export to 12 countries, the United States, and on Monday, “buy or leave” offers.
Speaking to the journalists in Air Force One on his way to New Jersey, Trump refused to name the countries involved by saying that this would be opened to the public on Monday.
Trump said on Thursday to journalists, although the date has changed, he said he expected the first letter group to go out on Friday, a national holiday in the United States.
In a global trade war that raised financial markets and initiated a struggle between policy makers to protect their economies, Trump announced 10 percent basic tariff ratio and additional amounts for most countries ranging from 50 percent up to 50 percent.
However, except for the 10 percent base ratio, all were suspended for 90 days to ensure more time to ensure that negotiations secure agreements.
This period ends on July 9, but on Friday Trump said that tariffs may be even higher – up to 70 percent – most of them will come into force on August 1st.
“I signed some letters and on Monday, probably 12, Tr Trump said when he asked his plans on the tariff front.
“Different amounts of money, different amounts of tariffs.”
Trump and his senior assistants initially said that they would initiate negotiations with scores at the tariff rates, but the US President was based on this process after repetition of major trade partners, including Japan and the European Union.
It was full on Friday, and he said to journalists: “The letters are better… It is much easier to send a letter.”
He did not address his prediction that some wider trade agreements could be achieved before the last date of July 9.
The change in the White House’s strategy reflects the difficulties of completing trade agreements from tariffs to agricultural imports and especially to a accelerated timeline.
Most of the past trade agreements took years to complete years.
The single trade agreements that have been reached so far reduce many Vietnam goods from 46 percent to 20 percent threatened before 46 percent threatened before, with the UK and Vietnam, which have reached an agreement to maintain 10 percent in May and have gained preferential treatment for some sectors, including cars and aircraft engines.
Many US products will be allowed to enter Vietnam without a customs.
An expected agreement with India could not realize, and on Friday, EU diplomats could not make a breakthrough in trade negotiations with the Trump administration and that they are now trying to expand the status quo to avoid tariff increases.
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