Washington, DC [US], July 8 (ANI): U.S. President Donald Trump said Monday night (local time) that Washington is close to reaching a trade deal with India, even as he announced a new round of tariffs targeting 14 other nations.
Speaking to reporters while hosting Israeli Prime Minister Benjamin Netanyahu at the White House, Trump stated that his administration had finalized deals with the United Kingdom and China and was nearing an agreement with India.
Trump explained that his administration had also sent formal letters to countries that he believes are unlikely to strike a deal with the U.S., outlining the tariffs they will face.
“We’ve spoken to everybody… it’s all done. I told you we’ll make some deals, but for the most part, we’re going to send a letter,” Trump said. “We’re going to say, welcome to the United States if you’d like to participate in the greatest, most successful country ever. We’re doing better than ever… We’ve never had numbers like this. We’ve never had investment like this.”
He added, “We’ve made a deal with the United Kingdom. We’ve made a deal with China. We’re close to making a deal with India. Others we met with, and we don’t think we’re going to be able to make a deal, so we just send them a letter. If you want to play ball, this is what you have to pay. As far as I’m concerned, we’re done.”
Trump argued that the tariffs were modest compared to what the U.S. could demand, saying, “We could ask for much more than what we’re asking for, but for the sake of relationships with a lot of really good countries, we’re doing it the way I do it.”
Earlier Monday, Trump announced the new tariffs — which take effect August 1 — on 14 nations, including Thailand, Myanmar, Bangladesh, South Korea, and Japan. He shared the letters to the respective leaders via his social media platform, Truth Social.
The first letters were addressed to Japan’s Prime Minister Shigeru Ishiba and South Korea’s President Lee Jae-myung. Later, Trump announced similar letters had been sent to Malaysia, Kazakhstan, South Africa, Myanmar, Laos, Thailand, Bangladesh, Indonesia, Tunisia, Bosnia and Herzegovina, Serbia, and Cambodia.
According to the letters, Thailand and Cambodia will face a 36 percent tariff, Bangladesh and Serbia a 35 percent tariff, Malaysia and Kazakhstan 25 percent, Myanmar and Laos 40 percent, Indonesia 32 percent, and South Africa and Bosnia and Herzegovina 30 percent. Tunisia, as well as Japan and South Korea, will face a 25 percent tariff.
The letters also warned that tariffs would increase further if these nations raised their own tariffs on American products, while leaving open the possibility of reductions if trade policies were revised.
White House Press Secretary Karoline Leavitt confirmed that Trump will sign an executive order delaying his original July 9 tariff deadline to August 1, aligning with the 90-day deadline he set earlier this year for nations to negotiate new trade deals or face higher tariffs.
On April 2, Trump unveiled what he called “reciprocal” tariff rates on key U.S. trading partners, with some rates as high as 50 percent. When those tariffs took effect on April 9, they triggered a Wall Street sell-off and turmoil in the bond market, prompting Trump to grant a three-month pause to allow for further negotiations, CNN reported. (ANI)
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