- Trump plans to notify dozens of countries about new tariff rates, citing slow trade negotiations.
- The US struck deals with the UK and China, keeping a 10% baseline tariff while exempting some goods.
- Commerce Secretary Lutnick indicated the 10% rate will likely become the standard for future trade agreements.
President Trump announced that the White House will soon notify dozens of countries about the unilateral tariffs they’ll be required to pay to export goods to the US, saying negotiations are moving too slowly to handle each deal individually. Speaking at a business roundtable in Abu Dhabi, Trump stated that within the next two to three weeks, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick would be sending out letters outlining the new rates. “We’re going to be fair,” Trump said, “but we’re going to let people know what they’ll be paying to do business in the United States.”
Tariff Agreements with the UK and China – A Template for Future Deals
Back in April, Trump unveiled a sweeping set of tariffs targeting numerous countries, with rates allegedly proportional to what those nations charge for US products. The tariffs were initially set for implementation on April 9 but were paused for 90 days to allow for trade talks, keeping a 10% baseline rate in place for all countries except China. The US later struck a deal with the UK, maintaining the 10% rate but exempting 100,000 British cars from Trump’s 25% global auto tariff and removing duties on UK airplane parts, including Rolls-Royce engines.
China Talks Progressing – US Tariff Reduction on the Table
A similar arrangement was reached with China, where the US reduced its tariff to 30% while Beijing cut its own to 10%. Trump described the ongoing talks with China as “very, very good,” and said he plans to speak with President Xi Jinping later this week to finalize agreements, including a pledge to open up China’s market to more US products. However, the 25% tariffs on cars, steel, and aluminum will stay in effect for now, signaling that key sectors remain protected.
10% Tariff as the Baseline – More Deals Expected
Commerce Secretary Lutnick told CNN that the 10% tariff rate would serve as a “template” for future agreements, suggesting it will likely become the floor rate for most countries.
Meanwhile, US Trade Representative Jamieson Greer is booked with trade meetings through July, indicating that more deals could be on the way. Trump’s trade adviser Peter Navarro hinted that the White House is looking to replicate the UK deal model for other nations, aiming for similar concessions in sectors like agriculture and manufacturing.
