After a long time of silence in the subject of the trade war on Friday evening, the news broke that Donald Trump broke off trade negotiations with Canada. The decision to complete the interviews lasting for several months was made after Canada announced the tax on digital services, which the US president called “a direct and glaring attack on his country.”
The question arises, what about negotiations with other countries? Soon, the deadline passes, to which everything was to be resolved (July 9). Meanwhile, the Secretary of Treasury Scott Bessent, quoted by CNN, said on Friday that in his opinion Trade negotiations may be completed before the Labor Day (September 1), which will provide a more flexible framework for signing contracts than the previously set date.
In an interview with Fox Business Scott Bessent said that The United States has 18 “important trade partners” with whom they want to conclude contracts. “If we manage to sign contracts with 10 or 12 of these 18 important partners, I think we will be able to end commercial negotiations before the Labor Day,” he specified.
The US negotiations to date on customs duties
CNN indicates that the administration of Donald Trump has so far announced only a trade agreement with Great Britain and a truce in the trade war with China.
On Friday, the Hhandlu Ministry in Beijing presented the details of the commercial agreement. As part of the settlement, the PRC will approve the export of goods covered by “according to the law”, and the US will “respectively” restrictions on China.
As part of the temporary solution developed in May in Geneva, Washington and Beijing agreed to lower the duties – the USA from 145 to 30 percent. for Chinese products, and China from 125 to 10 percent for American products.
What about US negotiations with the European Union? During commercial talks with the EU, representatives of the US President Donald Trump press the community to soften the climate regulations contained in the European Green Ład – “Wall Street Journal” said on Thursday. Last month, Donald Trump threatened to apply 50 % customs duties on most of the EU goods if the parties fail to generate an agreement before July 9.
