See every side of every news story
Published loading...Updated

US close to several trade deals, announcements expected in coming days, Bessent says

UNITED STATES, JUL 8 – The US targets 18 key trading partners representing 95% of its trade deficit with several deals expected before tariffs rise on August 1, Treasury Secretary Scott Bessent said.

  • U.S. Treasury Secretary Scott Bessent indicated on Sunday that the United States is nearing agreements on multiple trade deals before the July 9 deadline for increased tariffs.
  • These trade talks follow a tariff announcement on April 2 when the U.S. imposed a 10% base rate, with some tariffs up to 50%, which were suspended until July 9 to allow negotiations.
  • Key trading partners, especially 18 countries accounting for 95% of the U.S. trade deficit, face heightened tariffs from August 1 unless deals progress, with letters to 100 smaller countries warning of tariff increases.
  • Trump warned that countries not making concessions could see tariffs spike up to 70%, although this higher rate was not detailed in the April 2 announcement, and some negotiations with India and Europe reportedly advance well.
  • The pending deals and tariff pressure have prompted market uncertainty and shifts in production, suggesting rapid developments and possible extensions if concessions continue, but a return to earlier tariff levels remains likely if progress stalls.
Insights by Ground AI
Does this summary seem wrong?
Podcasts & Opinions

83 Articles

All
Left
6
Center
15
Right
21
Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

  • 50% of the sources lean Right
50% Right
Factuality

To view factuality data please Upgrade to Premium

Ownership

To view ownership data please Upgrade to Vantage

RTÉ broke the news in Ireland on Sunday, July 6, 2025.
Sources are mostly out of (0)