Arabictrader.com - U.S. President Donald Trump announced yesterday, Wednesday, his intention to set unilateral tariff rates for trading partners and send them within the next week or two. This move comes ahead of the deadline on July 9 to re-impose higher tariffs on dozens of economies.
In remarks to reporters before attending a performance at the Kennedy Center in Washington, D.C., Trump said, "At some point, we will send messages... saying: 'This is the deal. You can accept it or reject it.'" He added: "At some point we will do that. We are not quite ready yet."
This statement raises questions in the markets, especially after trade relations had taken a positive tone on Tuesday following talks between American and Chinese officials to ease tensions. However, analysts indicate that Trump's statements may be an attempt to accelerate the pace of trade negotiations.
It is noted that Trump has often set two-week deadlines for similar actions, but they have sometimes been postponed or not implemented at all. On May 16, Trump stated that he would set tariff rates for American trading partners "within the next two or three weeks".
Trump had announced higher tariffs on dozens of trading partners in April, before suspending them for 90 days after markets fell and investors feared that these tariffs would lead to a global economic downturn.
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