President Donald Trump said on Monday night (local time) that the US is close to reaching a trade deal with India, even announced tariffs in 14 countries.
Speaking to reporters as hosting Israeli Prime Minister Benjamin Netanyahu at the White House on Monday (local time), Trump said that the US had made a deal with the UK and China. He said that he had sent a letter to the nations that he believed that no one would deal with the US.
When asked about the tariff, Trump replied, “We have talked to everyone. … It has all done. I will make some deals to you, but for most parts, we are going to send a letter. We are going to say this, welcome to the United States, welcome to the United States, if you are ever better. It is okay to send in the letter.
“If you want to play the ball, … this is what you have to pay … as far as I am concerned. We are sending letters to different countries that they have to tell how much tariff they have to pay. Some may probably adjust something that they have.
We are not going to be inappropriate about it and in fact, this is a small fraction we should receive. We should be, we can ask a lot. But for those relationships that we had with very good countries, we are doing the way we are doing. We can be very high. We can ask more than what we are asking, “he said.
After announcing a new tariff for 14 countries including Thailand, Myanmar, Bangladesh, South Korea and Japan, his comments came into effect on 1 August.
Earlier, Trump shared letters sent by his administration to 14 countries on his social media platform Truth Social, informing them about mutual tariffs that would be effective from August 1.
Trump first shared the letters sent to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee J-Mung. About two hours later, he announced that similar letters were 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, Thailand and Cambodia each will face 36 percent tariffs, while Bangladesh and Serbia will be hit with a tariff of 35 percent. In letters, Trump mentioned that each in Malaysia and Kazakhstan would face 25 percent tariff.
Myanmar and Laos will face 40 percent tariffs on goods exported to the US. Indonesia will have to face a tariff rate of 32 percent. The imports from South Africa and Bosnia and Herjegovina will be under 30 percent tariff on 1 August. According to letters, Tunisia will face 25 percent tariff.
In letters written to South Korean President and Japanese Prime Minister, Trump said that Japan and South Korea would face 25 percent tariffs from August 1.
In letters, Trump threatened to increase the tariff rate from the same amount, if countries decided to increase their tariffs on importing US products. However, the US President indicated the desire to reduce these tariffs if these countries revised their trade policies.
Earlier, White House Press Secretary Karolin Lewitt announces that US President Donald Trump would sign an executive order, delaying his tariff deadline on 1 August on 9 July.
CNN reported that the 90-day deadline Trump has determined to end on 9 July to make a trade deal with the US or to face high tariffs. On 2 April, Trump unveiled new “mutual” tariff rates for major American trading partners, with some tariffs as high as 50 percent.
After the tariff came into effect on 9 April, he led to selling on Wall Street, and the Bond market revolted, which, according to the CNN report, announced a three -month stagnation to give more time to nations to interact with the US. (AI)