Reference News Network July 5 report - According to Reuters, on July 3, U.S. President Donald Trump said that Washington will start sending letters to countries on July 4, specifying the tariff rates that their goods exported to the United States will face. This is a clear shift compared to earlier commitments to reach dozens of individual agreements.
Trump acknowledged the complexity of negotiating with more than 170 countries. Before departing for Iowa on July 3, he told reporters that these letters would be sent simultaneously to multiple countries, listing tariff rates ranging from 20% to 30%.
Trump said, "How many agreements can we reach with more than 170 countries? They are much more complicated."
Trump said that after announcing a trade agreement with Vietnam on July 2, he expects to reach "a few" more detailed agreements with other countries.
However, he said that he prefers to notify most other countries with a specific tariff rate rather than engaging in detailed negotiations.
Trump's senior aides had previously said in April that they would negotiate 90 agreements within 90 days, a bold goal that was questioned by trade experts familiar with the past difficult and time-consuming trade agreement negotiations.
U.S. Treasury Secretary Scott Binance told Bloomberg Television that about 100 countries may see equivalent tariffs of 10%, and he expects a "series" of trade agreements to be announced before the deadline on July 9 when tariffs could be significantly increased. (Translated by Li Sha)
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