09:23 AM EDT, 05/16/2025 (MT Newswires) -- President Donald Trump said that he plans to set tariff rates for US trading partners in the "next two or three weeks," multiple media outlets reported Friday.

US Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick will be sending out letters to tell to other nations what "they'll be paying to do business in the United States," the president said in a meeting with business executives in the UAE, as cited by the news outlets.

The US president said that it was not possible to meet all the government representatives that want to make a deal. He added that they could make an appeal, without explaining the process for doing so, according to the reports.

The Trump administration is prioritizing trade talks with more than a dozen nations, including Japan, South Korea, India, and the EU, Bloomberg reported.