Trump: U.S. will set tariff rates in 2-3 weeks, walking back negotiations

President Trump said Friday the U.S. will unilaterally set tariff rates for many trading partners in the coming weeks, citing a lack of capacity to negotiate with so many countries simultaneously.

Why it matters: The U.S. already did that to some degree, on "Liberation Day" last month, then paused most of those rates after a global market panic sent stocks plunging and interest rates soaring.

Trump's original goal of making 90 deals during that 90-day pause has run into the reality of trade negotiations being far more complex than putting a number on paper.

https://www.axios.com/2025/05/16/trump-tariffs-trade-deal