🗞️ President Trump announced that within two to three weeks, the government will send letters to various international partners establishing new tariffs for access to the North American market. In a meeting with executives in the United Arab Emirates, Trump said that Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick will sign the documents informing 'how much certain nations will have to pay to do business in the U.S.'
According to the president, about 150 countries are queued for agreements, and the government does not have enough staff to conduct so many negotiations simultaneously. Among the ongoing negotiations are Japan, South Korea, and India. Washington also recently concluded a framework agreement with the United Kingdom and accepted a temporary bilateral reduction of tariffs with China.
The government did not specify which nations will receive the first letters nor the exact values of the tariffs. Experts note that by imposing individualized tariffs instead of resorting to large multilateral agreements, the White House adopts a 'tailored' strategy.
This approach, however, creates more uncertainty for companies that depend on the North American market, as they still do not know what costs they will face.
Source: Reuters 🚀 We continue to monitor the news and market reactions.