President Donald Trump again reiterated his point and said that the US is close to the trade agreement with India, although he announced a tariff on 14 countries.
Talking to reporters hosting Israeli Prime Minister Benjamin Netanyahu at the White House on Monday (local time), Trump said that the US had signed an agreement with Britain and China.
Trump said that he has sent letters to countries that he believes that he would not compromise with the US.
When asked about the tariff, Trump replied, “We have talked to everyone … everything has happened. I told you that we will do some deals, but in most cases we are going to send a letter. We will say, if you want to participate in the most successful country then you are welcome to the United States. I mean we are doing far better.”
He said, “We have never had such figures before. We have never had such an investment before. We have more than 90. But in most of them, letters are being sent in most of those cases. We will send them only a letter.
He said, “If you want to play, then you have to pay this. As far as I have been asked, we have done this. We are sending letters to various countries and telling how much tariff they will have to give. Some countries will probably have a little adjustment, it will depend on whether they have any reason or not. For our relations with good countries, we are doing what I can ask for more than what we are asking for. “
His remarks came after the announcement of new tariffs for 14 countries including Thailand, Myanmar, Bangladesh, South Korea and Japan, which will be effective from August 1. Earlier, Trump shared letters sent by his administration to 14 countries on his social media platform Truth Social, in which he was informed about the mutual tariff, which will be effective from August 1.
Trump first shared letters sent to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee J-Mayang. About two hours later, he announced that similar letters have been sent to Malaysia, Kazakhstan, South Africa, Myanmar and Laos.
Later, he shared tariff letters sent to leaders of other countries including Thailand, Bangladesh, Indonesia, Tunisia, Bosnia and Herzegovina, Serbia and Cambodia.
According to letters, each of Thailand and Cambodia will have to face 36 percent tariffs, while each of Bangladesh and Serbia will have to face 35 percent tariffs. In the letters, Trump mentioned that each of Malaysia and Kazakhstan would have to face 25 percent tariffs.
Myanmar and Laos will face 40 percent tariffs on their goods exported to the US. Indonesia will face 32 percent tariff rate. The imports from South Africa and Bosnia and Herjegovina will be under 30 percent tariffs from 1 August. According to letters, Tunisia will face 25 percent tariff.
In letters to the South Korean President and the Japanese Prime Minister, Trump said that Japan and South Korea would have 25 percent tariff from August 1. In the letters, Trump threatened that if these countries decide to increase the tariff on import of American products, they will increase the tariff rate equally. However, the US President indicated that if these countries amend their trade policies, they are ready to reduce these tariffs.
Earlier, White House Press Secretary Caroline Lewitt had announced that US President Donald Trump would sign an executive order, under which the tariff time limit of 9 July would be extended to 1 August.
According to CNN report, Trump has set a 90 -day deadline for countries to make a trade agreement with the US or to face a high tariff, which is scheduled to end on 9 July. On April 2, Trump unveiled the new “mutual” tariff rates for major American trade partners, with some tariffs up to 50 percent high.
According to the CNN report, after the tariff was implemented on April 9, there was a selling on Wall Street and the bond market took place, causing Trump to declare a three -month stop to give countries more time to interact with the US.
