[Source/Observer Network, Lin Chenli] According to reports by Politico, the UK Guardian and other media outlets, on May 16 local time, U.S. President Trump said that due to the inability to negotiate agreements with "150 countries", the United States will send letters to some countries, imposing new tariff rates unilaterally.

On the same day, Trump met with business representatives in the UAE and stated: "150 countries are seeking agreements with the United States simultaneously, but we cannot meet so many countries."

He added that Treasury Secretary Betsen and Commerce Secretary Lutnik would "send letters" to some of America's trading partners within the next two to three weeks, informing them of the tariff rates for goods exported to the American market. "This will be very fair, and we will tell people how much tariffs they need to pay when doing business in the United States."

On May 16 local time, Trump met with business representatives in the UAE and stated that the United States would impose new tariff rates unilaterally on some countries. AP News

Trump did not specify which countries would receive the letter from the U.S. side or which countries still have opportunities for negotiation. It is unclear whether these new tariffs will be levied according to the rates announced by Trump in April or if there will be adjustments.

An anonymous source familiar with the negotiations said that the Trump administration "cannot negotiate with so many countries at the same time," so the government plans to set a specific tariff rate after July, while other agreements will be negotiated "at an appropriate time."

Last week, Trump promised: "We still have four or five agreements to sign soon. We still have many agreements to sign, and eventually we will sign the remaining agreements."

On April 2, Trump announced a benchmark tariff of 10% on all foreign imports and imposed so-called "reciprocal tariffs" of up to 50% on approximately 60 trading partners.

As economic and political backlash became increasingly evident, Trump repeatedly changed policies. On April 9, Trump announced a 90-day suspension of the "reciprocal tariffs" while maintaining the 10% benchmark tax rate, allowing countries to negotiate with the Trump administration.

Politico reported that this was Trump's first public acknowledgment that his goal of reaching trade agreements with dozens of countries during the three-month moratorium period was "impractical," and his administration would not be able to reach agreements to reduce tariffs with more than 50 trading partners before the deadline set by himself in early July.

The Guardian reported that this statement exposed the difficulty of the task set by Trump for his administration, indicating that the Trump administration lacked the ability to negotiate simultaneously with numerous countries, and also meant that Trump would resort to tough terms.

CNN pointed out that if no agreement is reached in the negotiations, Trump may continue to impose "reciprocal tariffs" on global countries. Strictly speaking, these tariffs are not "reciprocal," and many countries with larger trade deficits with the United States will ultimately face heavy tariff burdens.

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Original source: https://www.toutiao.com/article/7505300585119023670/

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