E-Paper
Donald Trump says 'take it or leave it' tariff letters for 12 countries signed
US President Donald Trump signed letters to 12 countries detailing tariff rates on exports to the US, describing them as 'take it or leave it' offers.
US President Donald Trump has said he had signed letters addressed to 12 countries, detailing the tariff rates they would face on goods exported to the US.
Describing them as “take it or leave it” offers, Donald Trump said the letters would be sent out on Monday. Speaking to reporters aboard Air Force One en route to New Jersey, Trump, however, didn't reveal the names of the countries, saying they would be disclosed on Monday.
A deal expected with India has failed to materialise, and European Union diplomats on Friday said they have failed to achieve a breakthrough in trade negotiations with the Trump administration, and may now seek to extend the status quo to avoid tariff hikes.
On Thursday, Trump had told reporters that he expected a first batch of letters to be sent out on Friday, a national holiday in the United States, though the date has now shifted, Reuters reported.
"I signed some letters and they will go out on Monday, probably 12," Trump said, when asked about his plans on the tariff front. "Different amounts of money, different amounts of tariffs."
Trump's comments come days before steeper duties – which the president said on Thursday would range between 10 and 70 per cent – are set to take effect on dozens of economies, from Taiwan to the European Union.
The tariffs were part of a broader announcement in April where Trump imposed a 10 per cent duty on goods from almost all trading partners, with a plan to step up these rates for a select group within days.
But the US president swiftly paused the hikes until July 9, allowing for trade talks to take place. Countries have been pushing to strike deals that would help them avoid these elevated duties.
So far, the Trump administration has unveiled deals with the United Kingdom and Vietnam, while the US and China agreed to temporarily lower staggeringly high levies on each other's products.
As his July 9 deadline approaches, Trump has repeatedly said he plans to inform countries of US tariff rates by letter.
Aboard Air Force One on Friday, Trump said sending notices would be much easier than “sitting down and working 15 different things”.
He added, "You know, with the UK, we did that. And it was great for both parties. With China, we did that, and I think it's very good for both parties."
But he said it was "much easier to send a letter saying, 'Listen, we know we have a certain deficit, or in some cases a surplus, but not too many. And... this is what you have to pay, if you want to do business (with) the United States.'"
(With inputs from Reuters and AFP)
