President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies.
"At a certain point, we’re just going to send letters out. And I think you understand that, saying this is the deal, you can take it or leave it,” Trump told reporters Wednesday at the Kennedy Center in Washington where he was attending a performance.
It’s unclear if Trump will follow through with his pledge. The president has often set two-week deadlines for actions, only for them to come later or not at all.
The president on May 16 said he would be setting tariff rates for US trading partners "over the next two to three weeks.” The only trade framework the US has reached is with the UK, along with a tariff truce with China.
Asked Wednesday if he would extend the deadline for nations to cut deals with his administration before higher levies take effect, Trump said he would be open to it.
"But I don’t think we’re gonna have that necessity,” he added. - Bloomberg
