Trump administration sets Wednesday deadline for trade offers from other countries
The Trump administration is reportedly working on delivering a final trade offer deadline set for this Wednesday. According to reporting by Reuters, a draft letter to various US trading partners is setting an impossibly-close deadline to try and strongarm trade talk acceleration as the US struggles to unveil major trade deals the administration insists are forthcoming.
Trump team pushes for deal offers to avert its own tariffs
Time is running out for the Trump team to secure, finalize, and announce trade deals with other countries that support Donald Trump's "America First" campaign pledges. The White House temporarily suspended Trump's "Liberation Day" reciprocal tariff package for 90 days, and it is set to come into full effect in just a few weeks on July 8.
So far, the only country that has come close to reaching a trade agreement with the US is the United Kingdom, which itself contains little in the way of actual trade deal specifics and largely represents an agreement to continue negotiating in a manner that will please President Trump.
The Trump administration is undoubtedly in a rush to secure some form of announceable trade concession from a major trading partner: Trump's tariffs are on litigation life support, having been granted a brief stay as the US federal appeals court weighs the validity of the lawsuit brought against Trump regarding his tariffs. If the trade court's initial findings that Trump abused the IEEPA legal framework to impose trade tariffs unconstitutionally, it could bring about the end of Trump's ability to impose tariffs that have a global market-shattering impact.
Source : Fxstreet
