Trump Announces Plans for Letter Outlining New Tariff Terms, Leaving Countries to Accept or Reject
Trump to Impose Tariffs Unilaterally in Coming Two Weeks - Trump's stance: Deal or no deal
The Deal's on the Table: Trump's Latest Move on Tariffs
US President Donald Trump has declared his intention to deliver letters detailing new tariff rates and trading conditions to US trading partners within the next one to two weeks, hinting at a unilateral approach [1][3]. This decision comes before the July 9 deadline to reintroduce elevated tariffs on several nations.
At a recent gathering at the John F. Kennedy Center, Trump hinted that letters outlining the proposed deals would be dispatched, leaving the decision to the receiving nations. "So, at a certain point, we're just gonna send letters out, and I reckon you can catch my meaning – here's the deal, take it or leave it," Trump stated [1].
Will Trump Stick to His Word?
It's still uncertain whether Trump will stick to his word, given his history of setting two-week deadlines that often get postponed or ignored [2]. On May 16, Trump had stated that tariff rates for trading partners would be settled "over the next two to three weeks" [2].
Although the US has managed to finalize a trade framework with the UK and agreed to a temporary tariff respite with China, various agreements have faced uncertainty. For instance, the accord with China has been under pressure as both parties have accused each other of not honoring the terms, necessitating extended talks in London earlier this week to sort out the situation [2].
China in the Sights: Trump's New Trade Deal
On a related note, Trump stated earlier today that the trade agreement with China had been finalized, under which China would provide rare earth materials and magnets, with the US allowing Chinese students to continue studying at American universities [1]. When asked about extending the deadline for other countries to secure trade agreements before tariffs are enforced, Trump indicated a willingness but felt it wouldn't be necessary [1].
Sources:
- Bloomberg
- Financial Express
- Wall Street Journal
- The upcoming letters from Trump may outline new tariff rates and trading conditions, possibly influencing the market dynamics within finance and Defi sectors.
- Political uncertainty looms as the world waits to see if Trump will hold firm to his deadlines, given his history of shifting deadlines and policy-and-legislation maneuvers.
- In the general news, the trade agreement with China remains under close scrutiny, with Trump's latest announcement suggesting that China will provide rare earth materials and magnets, while students from China will continue to study at American universities.
