US President Donald Trump has suggested the possibility of extending the deadline for concluding trade agreements. This statement comes amid ongoing negotiations with several countries.
Openness to Deadline Extension
President Trump stated that he is open to extending the deadline for finalizing trade agreements set for July 8. However, he added, "I don’t think we’re gonna have that necessity."
Negotiations with Major Trade Partners
During current talks, the Trump administration is discussing terms with approximately 15 countries, including South Korea, Japan, and the European Union. Treasury Secretary Scott Bessent confirmed the possibility of extending the deadline during Congressional hearings, stating, "If someone is not negotiating, then we will not."
EU Talks and Uncertainties
Discussions with the European Union are ongoing; however, both sides face differences. The US has threatened to impose a 50% tariff on almost all EU exports if an agreement is not reached by the deadline. Trump also confirmed that formal letters outlining the terms of proposed agreements would be sent out in the upcoming weeks.
An extension of the negotiation deadlines could provide an opportunity for consensus between the US and its main partners. However, significant uncertainties in the negotiations remain.
