Trump pivots to higher tariffs over trade agreements
Higher tariff rates instead of promised agreements with all trading partners: Donald Trump is changing plans again. He announced the latest on the previous Friday at a meeting with business representatives in the United Arab Emirates. He assured that the new tariffs are a matter of two to three weeks.
Donald Trump presented a perspective in which the United States will impose higher tariffs on some of its trading partners instead of making deals with all of them.
Speaking on Friday at a meeting with business executives in the United Arab Emirates, the U.S. president said that Washington will impose new tariffs within the next two to three weeks. The matter is reported by the "Financial Times".
Trump explained that organizing meetings with representatives of 150 countries, which - according to the U.S. president - want to make deals with Washington is not possible.
He added that Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick will be sending out letters informing entrepreneurs how much they will pay to conduct business in the United States.
Trump announced high tariffs of up to 50% on most U.S. trading partners at the beginning of April, and then reduced them to 10% for 90 days to give countries time to negotiate lower fees.
Along with the "reciprocal" tariffs that Trump imposed on most trading partners, his administration announced a 25% tariff on the import of steel, aluminum, and cars.
So far, only the United Kingdom has managed to reach a partial agreement to lower some tariffs, obtaining a reduced rate for a limited number of cars, as well as the export of steel and aluminum to the U.S. However, London failed to reduce the 10% "reciprocal" tariff.
Currently, regarding tariff reductions, American officials are in talks with South Korea, Japan, Vietnam, India, and the European Union.
