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President Trump said Friday that the US will set tariff rates for its trading partners within the next few weeks. He said his administration cannot negotiate trade deals with all countries at once due to limited capacity.

“I think we’re going to be very fair. But it’s not possible to meet the number of people that want to see us,” the president said during a meeting with business executives in the United Arab Emirates.

Trump said Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick “will be sending letters out essentially telling people” what “they’ll be paying to do business in the United States.”

The US-China trade detente has moved to a side burner as investors study a tariff regime that looks more likely to hold, while also assessing prospects for deals. The US and China paused most tariffs for 90 days and sent markets into euphoria on Monday, after last week's announced trade deal with the UK.

China’s state-backed Global Times said Friday the 90-day US tariff truce is too short and should be extended. Analysts say China seeks flexibility, as tariffs may return after the truce.

Talks continue in South Korea, but Trump's tariffs are likely to stay high beyond the 90-day pause, Bloomberg reported .

On Thursday, Trump said India may may drop tariffs on US goods in a future trade deal. He also said Apple ( AAPL ) should boost US production after urging CEO Tim Cook not to expand in India.

In more corporate fallout, Walmart ( WMT ) on Thursday warned that rising costs from tariffs soon lead to higher prices for shoppers. The company was the latest to skip giving second-quarter profit guidance due to Trump's tariffs disrupting global trade.

Meanwhile, Trump's Middle East visit has opened the door for Saudi Arabia and the UAE to push ahead with their AI ambitions, with firms like Nvidia ( NVDA ) and Advanced Micro Devices ( AMD ) set to supply advanced chips.

Here are the latest updates as the policy reverberates around the world.