Treasury official: The United States is expected to reach multiple trade agreements by July 9

Source: Cailianshe

On Monday, U.S. Treasury Deputy Secretary Michael Faulkender said that the Trump administration has "made very good progress" in trade negotiations and has "close to the finish line" to reach some trade agreements.

"As long as we continue to make progress, I think you will see more agreements announced by July 9," Folkard said.

Not intending to extend the 90-day tariff suspension period

On April 2 (the so-called "Liberation Day" by Trump), Trump announced widespread reciprocal tariffs for the world, causing an uproar in the global trade market. On April 9, Trump suspended reciprocal tariffs on most U.S. trading partners, with a suspension period of 90 days, postponing the entry into force of the high tariffs to July 9.

At the time, the Trump administration threatened that its goal was to "reach 90 agreements within 90 days." But nearly two months have passed since, and the United States has so far only announced its agreement with the United Kingdom.

Despite this, Folkard insists that they do not intend to extend the 90-day tariff moratorium.

Folkard said the White House wanted to "complete as many of these discussions as possible" before the end of the 90-day moratorium, noting that the trade deal negotiations were "sometimes complicated."

Good negotiation progress has been made with several countries

"We want to see that we can at least reach the terms of the agreement before the end of the moratorium. As long as the negotiations are driven by progress and show goodwill, we will continue to move in the direction of announcing these agreements," Fokker said.

“We hope to announce and bring some solutions to the American people and the market as soon as possible,” he said.

Faulkard also said White House negotiators have "continued to make very good progress in several countries, and these negotiations should be achieved soon."

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