President Donald Trump threatened to dictate the terms of trade to nations that have yet to reach a deal with the United States.
In an interview with Sunday Morning Futures with Maria Bartiromo, Trump discussed the looming trade talks deadline, saying the U.S. has either reached or “pretty much” reached trade deals with the United Kingdom, China, and India. For the other nations, Trump said he would rather simply dictate terms via letters.
“We made deals, but I’d rather just send them a letter, a very fair letter, saying, ‘Congratulations, we’re going to allow you to trade in the United States of America. You’re going to pay a 25% tariff, or 20% or 40% or 50%.’ I would rather do that,” Trump said.
He gave the example of Japan.
“I could send one to Japan. Dear Mr. Japan, here’s the story. You’re going to pay a 25% tariff on your cars,” Trump said, going on to bemoan Japan’s “unfair” trade practices toward automobiles.
The president said he would be sending the letters “very soon.”
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Trump made nearly identical threats on May 16 and June 11, though he didn’t follow through either time.
With the July 9 deadline fast approaching, Trump appeared ambivalent about extending it, saying, “I don’t think I’ll need to. I could. There’s no big deal.”
