US EditionUS close to several trade deals, announcements expected in coming days, Bessent says
- U.S. Treasury Secretary Scott Bessent stated on July 6 that the U.S. is nearing agreements on multiple trade deals before the tariff increase deadline on July 9.
- The deals follow President Trump's announcement on April 2 of a 10% base tariff plus additional rates up to 50%, with a 90-day suspension to allow negotiations until July 9.
- Countries like India and Vietnam are reportedly near agreements, with framework deals involving Britain and Vietnam serving as negotiation guidelines, while talks with Europe show positive signs.
- Bessent explained that President Trump will send letters to trade partners warning that if agreements are not reached, tariffs will revert to the higher rates originally set on April 2 starting August 1, indicating a potential increase in tariffs.
- Several smaller countries face possible increased tariffs through about 100 letters Trump plans to send, but ongoing negotiations may delay tariff implementation beyond the current deadlines.
39 Articles
39 Articles
Trump says US nears multiple trade deals, tariffs to take effect on August 1
President Trump said the US will finalise new trade deals soon and notify countries of higher tariffs by July 9, with new rates starting August 1. Commerce Secretary Lutnick confirmed the timeline, while officials said talks with India and the EU are progressing and smaller nations will also face increased tariffs.
ThePatriotLight - U.S. tariffs to kick in Aug. 1, barring trade deals
ThePatriotLight - Washington – Major U.S. trading partners hurried over the weekend to secure trade deals or lobby for extra time, while Treasury Secretary Scott Bessent indicated that some countries lacking an agreement by the deadline Wednesday will have the option of a three-week extension to negotiate."We’re going to be very busy over the next 72 hours,” Bessent said Sunday on CNN’s State of the Union, referring to the time left before the a…
Bessent hints at trade talk extensions
Major U.S. trading partners hurried over the weekend to secure trade deals or lobby for extra time, while Treasury Secretary Scott Bessent indicated that some countries lacking an agreement by the deadline Wednesday will have the option of a three-week extension to negotiate. “We’re going to be very busy over the next 72 hours,” Bessent said Sunday on CNN’s “State of the Union,” referring to the time left before the administration’s July 9 deadl…
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