The headline on this from earlier is here:
Adding more now, from Treasury Secretary Scott Bessent testimony in Congress, the House Ways and Means Committee:
- Trump is “highly likely” to push back his July 8 deadline to reach deals with top trading partners
- prepared to “roll the date forward” to allow good-faith trade negotiations to continue
- 18 major partners are currently engaged in such discussions
On the other hand:
- “If someone is not negotiating, then we will not”
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The background to this is that Trump set the July 8 deadline after pausing his “reciprocal” tariffs on more than 60 countries in April.
Since then we’ve had announcement after announcement of trade deals to come (you’ve all heard the b/s “90 deals in 90 days,”), but we’ve had none. Only one ‘framework’ tentative agreement with the UK.
This article was written by Eamonn Sheridan at www.forexlive.com.
