Trump Tariff Updates: Most Trade Deals Finished, Will Send '200 Tariff Letters', Says US President

- Trump on Friday said he will send "200 tariff letters".

- Countries can expect tariffs in the range of 15% to 50%, he added.

- The US president believes there is a "50-50 chance" of pact with EU.

- He noted that a trade deal with neighbouring Canada is currently not his priority.

The live blog session has concluded.

US President Donald Trump on Tuesday said the Philippines would become an "open market" for American goods with zero tariffs, while paying a 19% tariff itself, marking what he described as a successful trade deal between the two nations.

Washington's agreement with Tokyo sets tariffs on the nation's imports at 15%, including for autos, which are by far the biggest component of the trade deficit between the countries.

India on Thursday had signed a free trade agreement with the United Kingdom, in a move that would enhance market access for various products between the nations.

The agreement will significantly reduce import duties and improve market access for goods and services on both sides. India’s average tariff on UK products will fall from 15% to 3%, easing entry for British exporters of soft drinks, cosmetics, cars and medical devices. Indian exports will also benefit from duty-free or preferential access across nearly all tariff lines.

Trump said he is considering sending rebate checks to Americans using revenue from tariff increases his administration is imposing on US trading partners.

“We’re thinking about that actually — we have so much money coming in, we’re thinking about a little rebate,” Trump told reporters.

Source: Bloomberg