Former President Donald Trump plans to set tariff rates for U.S. trading partners within two to three weeks from May 16, 2025. This move follows his April 2, 2025 executive order on reciprocal tariffs, which aims to address trade deficits through custom rates for each nation.
Trump Will Set Tariff Rates For Other Nations In Weeks as part of his trade policy that stresses fairness and equal treatment in global commerce. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick have been assigned to work out the details for these new tariffs, which will affect about 150 countries worldwide.
The April announcement included a 90-day pause for trade talks, showing that negotiations are still active. Economic studies suggest these tariffs could reduce U.S. GDP by 0.64% and China’s by 0.68%, pointing to major economic effects not fully discussed yet.
A short-term tariff deal with China exists, but few details are known. The lack of expert opinions and responses from affected nations leaves many questions open. The stakes are high.
Key Takeaways
- Trump plans to announce new tariff rates for trading partners within two to three weeks, following his May 16, 2025 statement.
- Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick are finalizing details of these international trade measures.
- No specific tariff rates, affected nations, or impacts on current trade agreements have been revealed yet.
- The proposed tariffs could potentially reduce U.S. GDP by 0.64% and China’s GDP by 0.68%, according to economic projections.
- Trump’s team emphasizes “fairness” in the process, aiming to match tariffs with what other countries charge on U.S. goods.
Trump’s Announcement on Tariff Rates
President Trump plans to announce new tariff rates for foreign nations within the next few weeks. His team claims these changes will create a fairer playing field for American businesses in global trade.
Setting tariff rates for other nations
Former President Trump plans to set new tariff rates for U.S. trading partners within the next two to three weeks. This major trade policy update was announced on May 16, 2025, following his earlier April 2 statement that established a 90-day negotiation period with various nations.
Trump has tasked Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick with finalizing the details of these international trade measures.
We’ll be setting tariff rates for our trading partners in the coming weeks. The process will be fair, but America must come first in these negotiations, Trump stated during his recent press briefing.
Emphasis on fairness in the process
President Trump has made fairness a central theme in his tariff plans. During his announcement, he stressed that new tariffs would create trade parity with other nations. The reciprocal tariff executive order signed on April 2, 2025 aims to balance trade relationships where the U.S. faces deficits.
Trump explained that American companies deserve equal treatment in global markets.
The fairness approach means tariffs will be adjusted to match what other countries charge on U.S. goods. This equity-focused strategy targets specific industries to promote just trade policies.
Trump’s team plans to review each trading partner’s practices before setting rates. The goal remains clear – to establish equitable tariffs that create a level playing field for American businesses while addressing trade imbalances.
Lack of Specific Details
Trump hasn’t shared any dates for his upcoming tariff rate announcements. His statements lack concrete figures, affected nations, or changes to current trade agreements.
No specified date for tariff rate announcement
Trump plans to set tariff rates for other nations soon, but has not given an exact date for this announcement. The former president indicated on May 16, 2025 that he would reveal the new rates within “two to three weeks.” This uncertain timeline creates economic uncertainty for global markets and businesses that rely on international trade.
The lack of a firm date appears linked to ongoing trade negotiations with key nations, which might affect the final decision on import duties.
The current pause in previous tariffs will last 90 days, giving room for these talks to progress. This temporary hold serves as a buffer while trade tensions remain high between the United States and its trading partners.
The vague schedule for announcing new tariff rates leaves many questions about how global trade relations might change in the coming months.
No specific statistical data or example rates
Trump’s announcement lacks specific numbers or clear examples of tariff rates. The White House has not released any concrete figures that would help businesses plan for upcoming trade changes.
This vague approach affects approximately 150 countries without explaining how tariff rates might differ between nations. The absence of precise numbers creates uncertainty in global markets as companies cannot accurately forecast their import costs.
The lack of concrete figures makes it impossible for businesses to prepare for these potential trade shifts.
The uniform approach suggests a one-size-fits-all tariff strategy rather than customized deals based on existing relationships. Trade experts note that without specific details, nations cannot begin meaningful negotiations to secure better terms.
This ambiguity extends to future trade agreements, which were mentioned without any statistical backing or examples of how they might work. The next section examines how different countries and economic experts have responded to this vague announcement.
No mention of affected nations or trade agreements
Moving beyond the lack of specific rates, Trump’s tariff plans also fail to name which countries will face these new trade measures. His announcement leaves many questions about which nations might see higher import taxes on their goods entering the United States.
The administration has not linked these potential tariffs to any existing trade agreements or explained how they might affect current deals.
Trump did reference a temporary tariff reduction deal with China but shared no details about its terms. His team claims they are holding trade talks with several countries right now, but won’t say which ones.
This vague approach creates uncertainty for businesses that import and export goods, as they cannot plan for which products might cost more in the near future. Without knowing which nations or agreements these tariffs might affect, economic experts struggle to assess the potential impact on American consumers and global markets.
Implications and Responses
Trump’s tariff plans have rattled global markets, causing stock dips and raising fears of higher consumer prices. Foreign leaders have warned of swift retaliation if the US moves forward with broad tariff increases.
Lack of discussion on implications of tariffs
Trump’s tariff plans lack proper discussion about their economic impact. The proposed tariffs could shrink U.S. GDP by 0.64% and China’s GDP by 0.68%, yet these facts remain largely ignored in public talks.
The 100% tariff on imported vehicles would create major market shifts, but few experts have addressed these concerns. European nations would face different levels of harm from these trade taxes, suggesting the need for more detailed analysis.
Most striking is the silence about possible payback actions from China or the EU, which could spark a harmful trade war. These gaps in the tariff debate leave both businesses and citizens without clear guidance on how to prepare for major changes in global trade relations.
Absence of comments from economic experts or affected countries
Despite the lack of discussion on tariff implications, the silence from economic experts and affected countries stands out. No formal statements have emerged from nations that might face these new tariffs.
Economic analysts who typically provide market impact assessments have not offered public comments on Trump’s announcement. This information gap limits understanding of how these potential tariffs might affect global trade relationships.
The absence of expert voices creates a one-sided narrative around the tariff plans. Political analysts have not shared their views on how these measures align with international trade policies.
No references appear to similar tariff actions from Trump’s previous term, which could provide context. The limited input from key stakeholders leaves many questions about regional and industrial impacts unanswered.
Conclusion
Trump’s plan to set new tariff rates lacks key details that would help us understand its full impact. No dates were given for when these rates will be announced or which countries might face them.
The White House claims these tariffs will create “fair” trade, but has not explained how rates will be decided. Trade experts remain unable to comment on potential effects without more specific information.
Markets may react with uncertainty as businesses wait to learn if their supply chains will be disrupted. Voters and trading partners alike will watch closely as this policy develops in the coming weeks.
References
- https://m.economictimes.com/news/economy/foreign-trade/trump-says-us-will-set-tariff-rates-for-other-nations-in-weeks/articleshow/121209911.cms
- https://www.bhfs.com/insights/alerts-articles/2025/-liberation-day-trump-announces-reciprocal-tariffs-ends-de-minimis-treatment-for-china
- https://finance.yahoo.com/news/live/trump-tariffs-live-updates-trump-hints-at-pharma-duties-no-plans-to-talk-to-chinas-xi-191201388.html
- https://www.businesstimes.com.sg/international/global/trump-says-us-will-set-tariff-rates-other-nations-weeks
- https://www.lse.ac.uk/granthaminstitute/wp-content/uploads/2024/10/Economic-impacts-of-the-Trump-Tariff-Proposals-on-Europe.pdf
