Trump: Will set tariff rates for other countries within the next two to three weeks.

US President Trump said on Friday that he will set tariff rates for US trading partner countries "in the next two to three weeks" and stated that his government cannot negotiate agreements with all trading partners. Trump said that Treasury Secretary Mnuchin and Commerce Secretary Lighthizer "will send letters telling everyone essentially how much it will cost to do business with the United States." "I think we'll be very fair. But we can't meet with everyone who wants to meet with us," Trump said. Trump claimed that "150 countries want to make deals," but did not specify which countries will receive the letters. Trump announced on April 2 that he would impose so-called "reciprocal tariffs" on dozens of trading partners, but later suspended the implementation for 90 days to give foreign governments time to negotiate, due to causing market panic. However, in recent weeks, Trump has gradually abandoned the idea of negotiating back and forth with each trading partner. Although the Trump administration is prioritizing trade talks with over a dozen countries, it is not able to negotiate with all countries included in Trump's so-called "reciprocal tariffs" plan due to limited resources and capacity. Earlier this month, Trump said he will directly decide the tariff levels for many countries that wish to avoid higher tariffs. Trade negotiations with Japan, South Korea, India, and the European Union are still ongoing. The US has already reached a new trade framework with the UK. Earlier this week, an interim agreement to mutual reduce tariffs was reached between the US and China after economic and trade talks in Geneva.