Investing.com -- U.S. President Donald Trump announced on Friday that American officials will be dispatching letters to various countries in the next two to three weeks, providing information on what they will need to pay to conduct business in the United States. The announcement was made during the President’s visit to Abu Dhabi, the capital of the United Arab Emirates, which marked the final leg of his four-day Gulf tour.
The President did not provide additional details regarding the content of these letters. The move comes on the heels of a recently announced cessation in the trade war between China and the United States, which was agreed upon during discussions held in Geneva on Monday. This development was mentioned by Trump during his address in Abu Dhabi, along with a separate trade agreement that the U.S. has entered into with Britain.
U.S. Treasury Secretary Scott Bessent and U.S. Commerce Secretary Howard Lutnick will be responsible for the distribution of these letters. The letters will detail the costs associated with conducting business in the United States. President Trump also mentioned that countries will have the opportunity to appeal the information contained in these letters, acknowledging that U.S. officials may not be able to meet with all of the "150 countries that want to make a deal."
Last week, the United States and Britain agreed on a limited bilateral trade agreement. This agreement maintains a 10% tariff on British exports to the U.S., while simultaneously reducing higher tariffs on steel and automobiles.
President Trump’s Gulf tour was centered around business deals potentially worth hundreds of billions of dollars. These deals could provide a significant boost to the U.S. economy and lead to job creation.
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