Trump Warns He’ll Give Countries ‘2-3 Weeks’ to Reach Trade Deals/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ President Trump announced the U.S. will begin unilaterally setting tariff rates in two to three weeks, citing stalled negotiations with trading partners. His administration originally paused reciprocal tariffs to allow time for new deals but now admits progress is too slow. Commerce and Treasury secretaries will soon notify countries of what they must pay to trade with the U.S.
Trump Plans Tariff Decrees as Talks Stall: Quick Looks
- Trump says U.S. will set tariffs “very soon” for nations that haven’t finalized trade deals.
- Initial 90-day negotiation window, announced in April, has not produced the expected results.
- Commerce Secretary Lutnick and Treasury Secretary Bessent will send out tariff notices.
- Global 10% baseline tariff remains in place, but higher rates are expected.
- Only U.K. and China have struck deals so far under the new framework.
- Trump originally aimed for 90 deals in 90 days, now acknowledges that’s unrealistic.
- Markets remain volatile, with investors watching for clarity on future tariff levels.
- Retailers like Walmart warn price hikes are imminent, citing rising import costs.
- Trump says new tariffs may hit up to 150 countries if negotiations fail.
- Economists say recession risk remains due to lingering trade uncertainty.
Trump Warns He’ll Give Countries ‘2-3 Weeks’ to Reach Trade Deals
Deep Look
WASHINGTON — President Donald Trump announced Friday that his administration will begin unilaterally assigning tariff rates to U.S. trading partners within the next two to three weeks, a major escalation in his ongoing trade war. The decision signals the end of a 90-day pause that was meant to allow time for negotiations — talks that Trump now admits are moving far too slowly.
“We have 150 countries that want to make a deal,” Trump said during a roundtable in Abu Dhabi at the close of his Middle East trip. “But you’re not able to see that many countries.”
Instead, he said, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick will soon “send letters out” informing countries what tariffs they will face to access the U.S. market.
“I think we’re going to be very fair,” Trump said, but added, “It’s not possible to meet the number of people that want to see us.”
From Negotiation to Decree
Trump’s “Liberation Day” tariffs, announced on April 2, included a 10% global baseline and steeper reciprocal tariffs on countries with trade surpluses against the U.S. Those were paused on April 9 after global markets plunged and interest rates spiked.
The plan was to use the 90-day window to secure new trade deals, but that timeline has proven unrealistic. Though dozens of countries expressed willingness to talk, only the United Kingdom and China have finalized frameworks with the Trump administration. Others — including Japan, India, and South Korea — are in talks but far from resolution.
“In the end, we’re going to have great deals,” Trump said. “But if we don’t have a deal, we’re going to set the tariff.”
Uncertainty for Businesses
Trump’s decision has left businesses and consumers in limbo, with uncertainty about what goods may soon become more expensive. Walmart warned this week that it will begin passing along increased costs to shoppers as it can no longer absorb the full impact of tariffs.
Meanwhile, market analysts and economists are watching closely.
“While there’s been policy backtracking, it hasn’t meaningfully improved the perception of U.S. creditworthiness,” said Convera strategist Kevin Ford.
The U.S. currently maintains a 13% average tariff, down from 23% before recent adjustments, but still far higher than the 2.3% pre-Trump average. Trump has floated going as high as 50% on some goods.
Where Are the Deals?
Despite bold claims — Trump told Time magazine in April he had already “made 200 deals” — very few have materialized. Trade deals, analysts point out, often require years of negotiation, especially when complex areas like non-tariff barriers, intellectual property, and agricultural access are involved.
Trump’s strategy of threat-first diplomacy may have worked in isolated cases, but it’s proven unsustainable at scale, especially when trying to process scores of trade agreements simultaneously.
What Happens Next?
- Countries still in active negotiations could face interim tariffs if no deal is reached before the letters go out.
- The 10% global tariff remains the minimum, but higher “reciprocal” rates are likely for those with trade imbalances.
- Small and mid-sized economies may be disproportionately affected by unilateral tariff assignments.
- U.S. consumers could feel more pain, especially for products not manufactured domestically.
The 90-day window closes on July 8, and unless a breakthrough occurs, Trump’s administration will proceed with its plan to notify non-compliant countries of their new trade rates.
“If we don’t get a deal, we’ll still get a result,” Trump said Friday.
Mixed Economic Signals
While recession fears have eased, the constant back-and-forth has taken a toll on investor confidence and international relationships. Trump’s approach has been described as transactional and volatile, favoring immediate leverage over long-term diplomacy.
Still, supporters argue the strategy is forcing overdue conversations about fair trade and American manufacturing.
“I’ve made all the deals,” Trump reiterated Friday. “You’ll see them soon.”
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