Trump to personally decide fate of customs negotiations after July 9

US President Donald Trump will personally decide on the possible extension of the deadline for tariff negotiations with trade partners after July 9, which was set as the deadline for the implementation of higher rates initiated by the American leader. This was stated by US Treasury Secretary Scott Bessent on CNBC, Bloomberg reports, according to UNN.

We will act according to the will of the President, and he will determine whether partners are negotiating in good faith. I am not going to publicly give a ten percent “break” when the matter needs to be brought to a conclusion.

Currently, the European Union, Japan, and other partners are subject to a 10% universal customs duty, which Trump introduced on April 9 for a 90-day “negotiation period.” This was a temporary measure after the suspension of much higher duties announced in early April.

Bessent said he met with his European trade counterpart on Thursday morning. And US Trade Representative Jamison Greer “will work intensively over the weekend” with European officials.

Let’s see what we can do with the European Union

Regarding Japan, where no agreement has yet been reached after several rounds of negotiations, Bessent noted that the domestic political situation may complicate the process.

The Japanese are our wonderful allies, but they are currently in a difficult situation – on July 20 they have elections to the upper house of parliament, and this, I think, significantly limits their ability to conclude an agreement.

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Regarding Vietnam, Bessent stated that the agreement has actually been “agreed in principle.” According to him, the 20% tariff announced by Trump is a key element of the agreement, and it will not be added to the existing 10% universal duty.

RecallAt the end of June, Trump stated that the previously named deadline of July 9 for trade with the EU is not a fixed date. He added that “it could be earlier or later than that date when broader US tariffs will be imposed if an agreement is not reached.”

We can do whatever we want. We can extend it (the deferral – ed.). We can make it shorter. I would like to make it shorter. I would like to just send everyone letters: Hello, you pay 25%

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