The US administration will notify some 200 countries soon of their new ‘world tariff’ rate, he told reporters in Turnberry, Scotland.
"We're going to be setting a tariff for essentially, the rest of the world," Trump was quoted as saying by global newswires. "And that's what they're going to pay if they want to do business in the United States. Because you can't sit down and make 200 deals."
Trump has already announced higher tariff rates of up to 50 per cent on some countries, including Brazil.
He recently clinched a trade deal with the European Union that includes a 15-per cent tariff on most EU goods, $600 billion worth investments in the United States by European firms and $750 billion in energy purchases over the next three years.
Before that, the US government signed a $550-billion deal with Japan along with smaller agreements with the United Kingdom, Indonesia and Vietnam.
ALCHEMPro News Desk (DS)
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