Photo : YONHAP News = AP Photo/Alex Brandon
Anchor: U.S. President Donald Trump says the U.S. will begin sending letters out to countries as early as Friday setting tariff rates, and that the money will begin flowing into his country on August 1. As the Trump administration is purportedly looking at a few deals, Seoul’s trade minister is leaving for Washington again Friday night.
Kim Bum-soo has more.
Report: U.S. import duties will rise if President Trump’s 90-day pause expires July 9 as scheduled.
Before boarding Air Force One at Joint Base Andrews on Thursday, the American president said he is ready to notify each country of how much it is going to pay in tariffs.
[Sound bite: US President Donald Trump]
“So we have a couple of other deals, but I … you know, my inclination is to send a letter out and say what tariff they are going to be paying. It’s much easier. We have, you know, far more than 170 countries, and how many deals can you make?”
With the deadline fast approaching, Trump wants to keep things simple.
[Sound bite: US President Donald Trump]
“I’d rather just do a simple deal where you can maintain it and control it. You’re going to pay a 20 percent or 25 percent or 30 percent tariff. ... And we’re going to be sending some letters out, starting probably tomorrow, maybe ten a day, to various countries, saying what they’re going to pay to do business with the U.S.”
Trump said later on Friday that the tariff rates will range from anything between ten to 20 percent to 60 to 70 percent, and that the money will start to come into the United States on August 1.
After weeklong negotiations in the U.S. late last month, South Korean Trade Minister Yeo Han-koo will leave for Washington again Friday night.
He is expected to request that the pause on reciprocal tariffs be extended for South Korea, which couldn’t fully engage in talks with the U.S. until June due to the former president’s impeachment.
Seoul is seeking exemptions on sectorial duties for automobiles and steel products, as well as the 25 percent reciprocal tariff Trump announced for the country before the current reprieve.
Kim Bum-soo, KBS World Radio News.