Trump’s warning came as a July 9 deadline approach to the global tariff rechallenge he announced in April.
Trump administrators will come to trade transaction framework agreement with China
President Donald Trump and Chinese officials agreed to a trade contract framework to include tariffs and eased rare earth restrictions.
- Trump said he would send 10 letters a day to countries that tell them what their tariffs are for selling products in the United States.
WASHINGTON – President Donald Trump told reporters on July 4th that he would begin sending letters to other countries as early as possible, stating tariff fees to sell products in the United States, rather than negotiating scores for individual trade deals.
“My trend is to send a letter saying what kind of tariffs they’re going to pay,” Trump said on July 3rd. “It’s much easier.”
His comments came as a July 9 deadline approach to the heavy tariff rechallenge in countries around the world. His announcement of global tariffs in April spiralized global financial markets before suspending 90-day charges in most countries.
Since then, Trump has announced a trade deal between Vietnam and the UK, as well as a framework for dealings with China. He aims for a 10% baseline fee and a larger fee for a given country based on the US trade deficit.
However, he said he doesn’t want to extend the deadline, making it difficult to negotiate deals with 170 other countries. The conflict remains with major trading partners such as Canada, Mexico and the European Union.
“How many deals can you make?” Trump said. “We can do more transactions, but they are very complicated.”
“It’s a lot of countries,” he added.
Trump said countries seeking trade have begun talking about certain products, such as beef and ethanol, but prefer to have flat tariff rates of 20%, 25% or 30% in each country.
“I want to send you a letter saying this is what you pay to do business in the US,” Trump said.
Trump said he expects to send about 10 letters a day starting July 4th.
“I just want to do a simple deal that I can keep and control,” Trump said.
