Intel stock extends gains after report of possible U.S. government stake
Investing.com-- U.S. President Donald Trump said on Wednesday that he will send letters to major economies setting his planned trade tariffs in the coming weeks, before a July 9 deadline to strike trade deals with his administration.
“At a certain point we’re just going to send letters out saying ‘this is the deal,’ you can take it or you can leave it,” Trump told reporters at the Kennedy Center.
“We’re going to be sending letters out in a week and a half to two weeks telling them what the deal is.”
Trump said talks were ongoing with Japan, South Korea, and about 15 countries.
It remained unclear whether Trump would make good on his tariff deadline, given that the president has set trade deadlines of two to three weeks in the past, only for them to pass either with no action or more extension.
When asked if he was willing to extend his July 9 deadline for trade talks, Trump said “I would, but I don’t think we’re going to have that necessity.”
Trump’s “liberation day” tariffs are set to take effect in early July, after the president initially unveiled them in April but announced a 90-day extension for trade talks. The president has threatened to impose steep tariffs on major U.S. trading partners unless they agree to a trade deal with the country.
So far, Trump’s administration has signed a trade deal only with the UK, and recently formed a trade framework with China.
Trump claimed on Wednesday that a trade deal with China was “done,” and that the U.S. had secured the supply of rare earths from the country. But more details on the deal were not provided.