President Donald Trump said that the United States is close to reaching a trade agreement with India, imposing tariffs on 14 countries. While hosting Israeli Prime Minister Benjamin Netanyahu at the White House, Trump told reporters that the US had reached an agreement with the United Kingdom and China. He stated that he had sent a letter to the countries that he believed would not reach an agreement with the United States.
Key Highlights
- Trump extended tariff deadline to August 1 for 14 nations, citing deal nearing with India.
- He emphasized proximity to India pact while imposing reciprocal tariffs ranging 25–40% on select countries.
When asked about tariffs, Trump said, "We've spoken with everyone...it's all done. I promised you that we'd make some deals, but for the most part, we'd send a letter. We'd like to welcome you to the United States if you want to be a part of the greatest, most successful country ever. I mean, we're doing better than ever. We've never seen numbers like this. We've never had this kind of investment before. We have more than 90... significantly more than 90. However, the majority of these will be sent via letter. This is exactly what I mentioned. We now have a deal with the United Kingdom. We made a deal with China. We're close to reaching an agreement with India. Others we met with, and we don't think we'll be able to reach an agreement. So we just sent them a letter."
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"You must pay this amount if you wish to play ball. In my opinion, we're finished. Letters informing different nations of the amount of tariffs they must pay are being sent out. Some people may make minor adjustments based on their cause. We won't treat it unfairly, and in reality, it's a tiny portion of what we ought to receive. We could be asking for much more, and we should be. However, we're doing it the way I do for the benefit of our relationships with many excellent nations. We might be receiving much more. We're asking for a lot more than that," Trump added.
His comments followed his announcement of new tariffs that will go into effect on August 1 for 14 countries, including Bangladesh, South Korea, Japan, Thailand, and Myanmar.
