President Donald Trump said on Wednesday that he intends to unilaterally impose new tariff rates on a wide range of U.S. trading partners within the next two weeks, as a self-imposed July 9 deadline approaches.
Speaking to reporters at the John F. Kennedy Center for the Performing Arts in Washington, Trump said the U.S. would soon send formal letters to various countries, outlining new trade terms.
“We’re going to be sending letters out in about a week and a half, two weeks, to countries, telling them what the deal is,” he said. “At a certain point, we’re just going to send letters out — and I think you understand that — saying, ‘This is the deal, take it or leave it.’”
Trump has frequently made similar two-week pledges in the past, many of which have been delayed or unfulfilled. In mid-May, he stated that tariff announcements would come “over the next two to three weeks.”
In April, Trump announced plans to raise tariffs on numerous economies, but later postponed their implementation for 90 days after markets reacted negatively and concerns arose about the risk of triggering a global economic slowdown.
So far, the U.S. has secured only a limited trade framework with the United Kingdom and a fragile tariff truce with China. Even the temporary détente with Beijing has been under strain. Earlier this week, U.S. and Chinese officials held extended talks in London to address mutual accusations of backtracking on commitments.
Trump said Wednesday that the framework with China had been finalized and includes provisions for China to supply the U.S. with rare earth elements and magnets. In return, the U.S. would allow Chinese students to continue studying at American universities.
When asked whether he would consider extending the July 9 deadline to give countries more time to negotiate individual deals and avoid higher tariffs, Trump replied that he was open to it, but didn’t believe it would be necessary.
While Trump initially proposed negotiating separate agreements with each trading partner, he has since scaled back that ambition. His administration is currently prioritizing bilateral negotiations with a few key economic partners, including India, Japan, and South Korea.
Talks with the European Union are expected to be among the most difficult and time-consuming. Commerce Secretary Howard Lutnick acknowledged the complexity of negotiating with the 27-member EU bloc, indicating that an agreement with Europe may be one of the last to be concluded.
