The US President's administration aims to conclude 90 commercial agreements in 90 days. Trump will be the “chief negotiator”
Donald Trump's administration set out to conclude 90 commercial agreements in 90 days. Everything is done under the careful coordination of the US President.
Donald Trump will be “Chief Negotiator” Photo: AFP
Trump started this 90 -day interval after suspending the application of increased tariffs for many countries, in the context of the collapse of financial markets, generated by fears related to recession and inflation. The president explained that this break will allow the states to reach bilateral agreements with the US.
The European Trade Commissioner, Maros Sefcovic, will be one of the first foreign officials who come to Washington on Monday, for urgent negotiations on high rates, announced by Trump, reports Reuters. The EU is one of the most important US trading partners, with a bilateral trade in nearly $ 1,000 billion last year. Only on the day of Sefcovic's arrival in the US, Scott Besent, the secretary of the treasury and the main tariff negotiator, will be in Buenos Aires to support the economic reforms in Argentina.
The absence of Bessent highlights the doubts expressed by the trade experts regarding the administration's ability to manage so many simultaneous negotiations and the real chances of concluding 90 agreements in 90 days.
“Preparation of these decisions will require serious negotiations“, Said Wendy Cutler, former chief negotiator of US trade representative, currently director at Asia Society Policy Institute.”There is no chance that, during this time, we will conclude complex commercial agreements with any of these countries, ”he added.
However, the commercial counselor of the White House, Peter Navarro, held at the Fox Business Network that BESSENT, the trade representative of Jamieson Greer and the Secretary of Howard Lutnick can cope. “We will conclude 90 agreements in 90 days. Is possible“Said Navarro, who added that:”The chief (Trump no) will be the chief negotiator. Nothing is done without him analyzing very carefully“.
“Work non-stop” to conclude the agreements
This week, investors sold massively American bonds, which led to increased interest and decreased dollar, against the background of concerns about a possible recession. Gold, considered a refuge in times of crisis, has reached a new record.
Cutler stressed that this instability puts pressure on Trump's team to achieve fast results. “They will have to prove that they can quickly conclude agreements, in order to restore the confidence of markets and trading partners ”, he said.
The increasing tensions with China, which did not benefit from the postponement of the tariffs and responded with equivalent measures, further aggravates the situation.
Even the smallest commercial agreements in Trump's first term, such as changes in the car sector and steel within the US-South Corea agreement, lasted over eight months. And the US-Mexico-Canada (USMCA) commercial agreement required more than two years.
“We can reach the point where the president can close these agreements. If they are good, they will sign them. If not, we will apply the tariff“Said Jamieson Greer, the representative for trade, who stressed that his team of 200 people”work non-stop ”, changing proposals with foreign counterparts.
Several countries, including the United Kingdom and Australia, have held commercial discussions with the Washington administration since January, without concrete results.
“There is no clear roadmap to be transmitted from one side to the other. It is rather a process. And I would rather use the term «discussions» than «negotiations“Said a diplomat for the quoted source.
