Trump says US will set new tariff rates for some of its trading partners

News Snapshot:

Donald Trump has said the US will send letters to some of its trading partners to unilaterally impose new tariff rates, suggesting that Washington lacks the capacity to reach individual trade deals. Highlighting the challenge for the White House to negotiate deals with scores of countries at once, Trump said it was “not possible to meet the number of people that want to see us”. Speaking at a meeting with business leaders in the United Arab Emirates on the US president’s tour of the Gulf, he said: “We have, at the same time, 150 countries that want to make a...