Trump, the president of the United States, said on Wednesday that he was willing to extend the July 8 deadline for trade negotiations before higher tariffs would start, but that an extension probably won’t be” a necessity.” Speaking to reporters prior to a performance at the Kennedy Center, Trump said,” We’re rocking in terms of deals. Trump said that despite having some flexibility, he didn’t believe an improvement may be” a necessity” because” we’re dealing with quite a few places and they all want to make a package with us.” We are dealing with Japan, they say. We’re dealing with South Korea. We are dealing with a lot of them. The US President told the investigators that” we’re dealing with about 15 nations.” Trump added that Trump will immediately give letters outlining the terms of the last trade agreement to dozens of nations. However, you can’t make a package with all of them because, as you know, we have over 150. So we’re going to get sending words out to places in about a year and a half, two days, and telling them what the deal is,” he said. We’re going to send out letters out at some point stating,” This is the offer. You can take it, or you can keep it, Trump said. But we’ll do that at some point. We’re certainly yet prepared, he continued.
Just one deal reached in the United Kingdom’s favor is now being finalized, and 17 others are pending negotiations. On July 8, a 90-day delay for Trump’s extensive “reciprocal” tariffs will come into effect, putting pressure on nations to come to contracts. Speaking to politicians, US Treasury Secretary Scott Bessent stated that the date may be extended for some countries. According to Bessent,” It is very possible that those countries- or trading blocs as is the case with the EU- who are negotiating in great faith will move the date forth to maintain the good-faith negotiations.” ” We will not if someone is not negotiating, then we will not.” Bessent even stated. For the first time a Trump administration official suggested the price pause deadline had become flexible, Bessent said in his comments. Trump echoed this attitude, saying,” They do want to negotiate.” Trump confirmed earlier on Tuesday ( local time ) that a new trade agreement with China is “done,” pending final approval from both him and Chinese President Xi Jinping. According to the agreement, China may impose a 10 % tax on American items while the US will impose a 55 % tax on Chinese exports. We had a wonderful relationship with China. Trump continued,” We have everything we need, and we’re going to do very well with it,” Trump told reporters at the Kennedy Center. Trump claimed that China will offer the US with magnets and unusual world materials as part of the deal.” And finally they are, also. Foreign students will be able to continue studying at American universities in exchange for Trump’s earlier limitations on their entry to US organizations.
Trump stated on Truth Social that “our deal with China is done, content to final approval with senator xii and me. China will supply whole magnets and any important rare earths right away. In addition, we may offer Chinese students access to our colleges and universities ( which have always been fine with me! ), as per the agreement. China is receiving 10 % of the total taxes while we are getting 55 %. Excellent marriage, indeed! President XI and I will work tightly together to start China to American business, adding to the reading about China. Both nations may benefit greatly from this! Trump remarked in a distinct post,”! Trump’s dramatic statement on April 9 of a delay in his extreme tax strategies, which shocked the world a year earlier when he unveiled sweeping” Liberation Day” tariffs on almost all major trading partners, serves as the backdrop to these developments. The S&, P 500 Index dropped over 12 % in just four days, its worst drop since the Covid-19 pandemic started. The dollar fell and yields spiked, and even US Treasury bonds suffered losses. Markets only started to stabilize on April 9 when Trump unexpectedly stopped imposing tariffs. As the administration reduced aggressive tariff plans, particularly those aimed at China, optimism came back in May.
