“We’re Going To Be Fair”: Trump Will Set Tariff Rates For Other Nations In Weeks

President Trump has departed Abu Dhabi aboard Air Force One, concluding a historic week in the Middle East that saw the signing of more than a trillion dollars in deals aimed at advancing his ‘America First’ agenda. 

.@POTUS boards Air Force One in Abu Dhabi — marking the end of his HISTORIC week in the Middle East.

pic.twitter.com/npvAVuJvGj

— Rapid Response 47 (@RapidResponse47) May 16, 2025

Ahead of his departure from the Middle East, President Trump addressed business leaders in Abu Dhabi, stating that his administration will unilaterally set tariff rates for U.S. trading partners within the next two to three weeks.

“We just reached a fantastic trade deal with the United Kingdom. And we have another big one that we reached with China,” the president said. 

He continued, “At the same time, we have 150 countries that want to make a deal—but you’re not able to see that many countries.” He added that Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick “will be sending letters out essentially telling people what “they’ll be paying to do business in the United States.”

“I think we’re going to be very fair. But it’s not possible to meet the number of people that want to see us,” Trump said. 

The president did not specify which countries want to make deals, nor the ones that will receive letters. 

Trump: And we have.. 150 countries that want to make a deal but you’re not able to see that many countries so at a certain point over the next two to three weeks… we’ll be telling people what they will be paying to do business in the United States. pic.twitter.com/iZdCfb8ksh

— Acyn (@Acyn) May 16, 2025

Talks remain ongoing with top trading partners, including Japan, South Korea, India, the EU, and China, with recent progress…

• Trump Hails U.S.-U.K. Trade Deal As “Breakthrough”, Says Lower Barriers Will Unlock Transatlantic Growth

• U.S., China Reach Agreement To Lower Tariffs In 90-Day Cool-Off Period

However, the administration appears to have abandoned comprehensive negotiations in favor of setting terms directly for many countries due to what Bloomberg says “the lack of manpower and capacity makes it impossible to hold concurrent negotiations with all the countries caught up in the president’s so-called reciprocal tariffs plan.” 

Earlier this week, the U.S. and China announced a breakthrough trade agreement that temporarily lowered tariffs on each other’s products for 90 days. The U.S. dropped its 145% on Chinese goods to 30%, while China lowered levies from 125% to 10%. 

Goldman illustrates the rollercoaster ride of the tit-for-tat trade war between the U.S. and China in recent months, as well as the temporary cooling period aimed at de-escalating tensions.

On Wednesday morning, Goldman analyst Jerry Shen told clients, “We Now Expect the Effective Tariff Rate to increase by 13pp.” 

Last week, Trump stated, ”We have four or five other deals coming immediately. We have many deals coming down the line. Ultimately, we’re just signing the rest of them in.”