President Donald Trump said he has signed letters to 12 countries, outlining the various tariff levels they will face on goods they export to the United States.
The president made the remarks to reporters aboard Air Force One as he traveled to New Jersey on Friday night. He declined to identify the countries, but said it would be made public on Monday.
“I signed some letters and they’ll go out on Monday, probably 12,” Trump said. “Different amounts of money, different amounts of tariffs and somewhat different statements.”
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Why It Matters
Trump in April announced a 10-percent base tariff rate and additional amounts for most countries, including some as high as 50 percent. But, after the announcement prompted a market meltdown, the president hit pause for 90 days to allow time for negotiations with individual counties, although high taxes were left in place on imports from China.
Trump had initially promised to make “90 deals in 90 days,” but few agreements have been finalized with just days until the pause ends on July 9. The president said last week that he was not planning to extend the 90-day pause and his administration would be notifying counties about the tariffs that will take effect unless deals are in place with the U.S.
What To Know
Asked if he may reach a deal with the European Union, Trump spoke about the difficulty of negotiating the deals.
“I think the letters are better for us; I’ve said that all along,” he said. “Because you have hundreds of countries, you know, you have over 200 countries and you can’t sit down with 200 countries. I think the letters are better.”
Trump earlier on Friday told reporters at Joint Base Andrews in Prince George’s County, Maryland, that some of the tariffs could be as high as 70 percent.
“They’ll range in value from maybe 60 or 70 percent tariffs to 10 and 20 percent tariffs, but they’re going to be starting to go out sometime tomorrow,” Trump said.
“We’ve done the final form, and it’s basically going to explain what the countries are going to be paying in tariffs.”
What People Are Saying
Treasury Secretary Scott Bessent said in an appearance on CNBC on Thursday that more deals could be struck before the July 9 deadline: “Of course, everyone waits till the last minute. They think that they can get the best deal. And as I’ve warned when I’ve done other media, these countries should be careful because their rate could boomerang back to their April 2 rate.”
European Commission President Ursula von der Leyen said during a news conference on Thursday: “Indeed what we are aiming at is an agreement in principle, because [with] such a volume, in 90 days, an agreement in detail, it’s impossible … That is also what the U.K. did.”
What Happens Next
Trump has said the tariffs are set to go into effect on August 1. He did not say whether any other trade agreements could be reached before the July 9 deadline.
