$BTC On May 16, U.S. President Donald Trump announced that Washington would no longer negotiate individually with each country on tariffs.

Instead, the U.S. will send notification letters to about 150 countries regarding the new import tax levels in the coming weeks.

Speaking at a business forum in Saudi Arabia, Trump stated that the U.S. would implement the new tariffs within "the next two to three weeks," while affirming that "it is not possible to meet with each of the 150 countries that are looking to reach a trade agreement with us."