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US close to deal with India, says Trump as he announces new tariff rates
Responding to a question on tariffs, Trump noted, "We've spoken to everybody. ...it's all done. I told you we'll make some deals, but for the most part, we're going to send a letter. We're going to say, welcome to the United States, if you'd like to participate in the greatest, most successful country ever. I mean, we are doing better than ever... We've never had numbers like this. We've never had an investment like this. We have more than 90... we have much more than 90. But most of those are going to be sent by letter. This is exactly what I said. Now we've made a deal with the United Kingdom. We've made a deal with China. We're close to making a deal with India. Others we met with, and we don't think we're going to be able to make a deal. So we just send them a letter."
He made these remarks while speaking to reporters at the White House as he hosted Israel's Prime Minister Benjamin Netanyahu. Earlier on Monday, Trump set 25 per cent tariff rates for Japanese and South Korean-made goods, adding that these would come into effect on August 1. Soon after, Trump also announced new tariff rates for 12 other countries.
Trump said that the US has already made a deal with the UK and China, adding that the letters were being sent out to those nations that he believed would not make a deal with the United States.
The letters, which were posted on Truth Social, Trump's private social media platform, warned the countries imposed with these tariffs not to retaliate by increasing their import taxes, or else the Trump administration would further increase tariffs.
List of countries with new tariff rates:
Myanmar: 40 per cent
Laos: 40 per cent
Cambodia: 36 per cent
Thailand: 36 per cent
Serbia: 35 per cent
Bangladesh: 35 per cent
Indonesia: 32 per cent
South Africa: 30 per cent
Bosnia and Herzegovina: 30 per cent
Kazakhstan: 30 per cent
Malaysia: 25 per cent
Tunisia: 25 per cent
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