Trump ‘likely’ to push back July tariff deadline, Bessent says
The Treasury secretary told lawmakers the administration is looking to “roll the date forward” to allow more time for trade negotiations with other countries.
Ari Hawkins
President Donald Trump is “highly likely” to push back his July 8 deadline to reach deals with top trading partners, Treasury Secretary Scott Bessent told lawmakers Wednesday.
Speaking before the House Ways and Means Committee, Bessent said the administration is prepared to “roll the date forward” to allow good-faith trade negotiations to continue, noting that 18 major partners are currently engaged in such discussions. “If someone is not negotiating, then we will not,” Bessent added.
The president set the July deadline after pausing double-digit “reciprocal” tariffs on more than 60 countries in April, a threat that triggered recession warnings from U.S. economists and business leaders. But he threatened to reimpose the tariffs on July 9 if other countries do not agree to bring down their trade barriers and address other administration concerns.
The pause triggered a flurry of outreach from foreign leaders seeking to negotiate with the White House. But despite promises of “90 deals in 90 days,” the White House has since inked just one tentative agreement with the United Kingdom, with whom the U.S. already has a trade surplus. Other talks have bogged down as countries haggle for better terms and relief from Trump’s “baseline” 10 percent tariff he imposed in April, as well other sector-specific duties on products like autos, steel and aluminum.
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