The Trump administration is intensifying pressure on trading partners to finalize new deals by a Wednesday deadline, with impending tariff increases planned for August 1. Businesses and consumers face growing uncertainty regarding which countries will be affected and if the deadline will be extended. Key officials indicate a flexible approach to negotiations, suggesting that countries demonstrating good faith could see deadlines adjusted. Notably, elevated tariffs have been applied to many nations, impacting global trade dynamics and current negotiations involve agreements with the UK and Vietnam only.
Kevin Hassett, director of the White House National Economic Council, emphasized that the United States is always willing to talk to everybody about everything, but deadlines are involved, which could lead to changes in negotiations.
Stephen Miran, chair of the White House Council of Economic Advisers, stated that countries negotiating in good faith and making concessions may find that deadlines could be pushed back.
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