Trump shifts strategy: Higher tariffs over trade deals
Higher tariff rates instead of promised agreements with all trading partners—Donald Trump is changing plans again. He announced the latest change last Friday at a meeting with business representatives in the United Arab Emirates. He assured that the new tariffs will be implemented in about 2-3 weeks.
Donald Trump presented a perspective in which the United States will impose higher tariffs on some of its trading partners instead of forging deals with all of them.
Speaking on Friday at a meeting with business executives in the United Arab Emirates, the U.S. president said that Washington will implement new tariffs within the next two to three weeks, according to a report by the "Financial Times".
Trump explained that organizing meetings with representatives of 150 countries—which, according to him, want to make deals with Washington—is not feasible.
He added that Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick will be sending out letters informing entrepreneurs how much they will need to pay to conduct business in the United States.
Trump initially announced high tariffs of up to 50% on most U.S. trading partners at the beginning of April, which he later reduced to 10% for 90 days to give countries time to negotiate lower fees.
Alongside the "reciprocal" tariffs that Trump imposed on most trading partners, his administration also announced a 25% tariff on the import of steel, aluminum, and cars.
So far, only the United Kingdom has managed to reach a partial agreement to lower some tariffs, securing a reduced rate for a limited number of cars, as well as for the export of steel and aluminum to the U.S. However, London was unable to reduce the 10% "reciprocal" tariff.
Currently, regarding tariff reductions, American officials are in talks with South Korea, Japan, Vietnam, India, and the European Union.
