Time Magazine: Trump Says He Will Set Tariffs in Three to Four Weeks
In an interview with Time magazine, President Donald Trump said he delayed the country-by-country reciprocal tariff rates in early April not because the bond market was panicking, but because he needed time to come up with rates that they deserve.
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"I'm doing that until we come up with the numbers that I want to come up with," he said. For countries that make deals before that time, the rate will be part of the deal, he suggested, but for those that don't reach deals, he said he "will set the price" to sell to Americans.
Trump also said in the Oval Office this week that he would finish his rate-setting in weeks, and not wait until July to let the original reciprocal tariff rates snap back (see 2504230010).
On Air Force One, as he was traveling to the pope's funeral on April 25, Trump said he would love for China to open its market to U.S. exports, but didn't know if he would ask, because they don't want to open.
He also said it's unlikely that he'll offer another pause on reciprocal tariffs. "We'll have deals made, but we'll also ... set the tariff. We'll be reasonable, we'll be very reasonable."
When asked about the reaction in the markets, he said, "I said there'd be a transition. People haven't understood it. Now they're starting to understand it."