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Donald Trump says US will set tariff rates for scores of countries in 2 to 3 weeks

President says Washington lacks capacity to strike deals with every nation

Donald Trump has held out the prospect that the US will impose higher tariff rates on many of its trading partners, rather than striking deals with all of them.

Speaking at a meeting with business executives in the United Arab Emirates on Friday, the US president said Washington would impose new tariffs “over the next two to three weeks”.

Trump said that, while “150 countries” wanted to agree deals, “it’s not possible to meet the number of people that want to see us”.

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