US signals extension of tariff deal deadline
US President Donald Trump's top official for trade negotiations has hinted at an extension of the deadline to work out deals. Treasury Secretary Scott Bessent said he hopes they can ink the agreements by September 1.
Bessent told Fox Business on Friday that a lot of the countries are "feeling pressure" to get a deal done, as the 90-day pause on what Trump calls "reciprocal tariffs" ends on July 9.
Bessent said the US has "18 important trading partners," and is seeking to wrap up deals with 10 or 12 of them. He added that they hope to make an agreement with another 20 by Labor Day, which is September 1.
Trump told reporters on Friday the July deadline remains flexible. He said: "We can do whatever we want. We could extend it. We could make it shorter. I'd like to make it shorter. I'd like to just send letters out to everybody. Congratulations, you're paying 25 percent."
He later announced on social media that his administration has terminated "all discussions" with Canada over its plans to tax US technology firms. He said new tariffs will be imposed soon.
Japanese negotiators are still working to cement a deal. Economic Revitalization Minister Akazawa Ryosei is in Washington for a seventh round of talks with US Commerce Secretary Howard Lutnick. They agreed to continue to work hard towards an agreement.
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Yomiuri Shimbun
2 hours ago
- Yomiuri Shimbun
Congo and Rwanda Sign a US-Mediated Peace Deal Aimed at Ending Decades of Bloody Conflict
WASHINGTON (AP) — The Democratic Republic of Congo and Rwanda on Friday signed a peace deal facilitated by the U.S. to help end the decadeslong deadly fighting in eastern Congo while helping the U.S. government and American companies gain access to critical minerals in the region. 'Today, the violence and destruction comes to an end, and the entire region begins a new chapter of hope and opportunity, harmony, prosperity and peace,' President Donald Trump told the foreign ministers of the two countries at a White House meeting. The agreement was signed earlier at the State Department's Treaty Room beneath a portrait of Colin Powell, the first African American to hold the job of top U.S. diplomat. There, Secretary of State Marco Rubio called it 'an important moment after 30 years of war.' The Central African nation of Congo has been wracked by conflict with more than 100 armed groups, the most potent backed by Rwanda, that have killed millions since the 1990s. While the deal is seen as a turning point, analysts don't believe it will quickly end the fighting because the most prominent armed group says it does not apply to it. Many Congolese see it mainly as an opportunity for the U.S. to acquire critical minerals needed for much of the world's technology after their government reached out to Trump for support in fighting the rebels. Trump has pushed to gain access to such minerals at a time when the United States and China are actively competing for influence in Africa. Congo and Rwanda send top diplomats to sign Congo's Foreign Minister Therese Kayikwamba Wagner invoked the millions of victims of the conflict in signing the agreement with Rwandan Foreign Minister Olivier Nduhungirehe. Both expressed optimism but stressed significant work still to do to end the fighting. 'Some wounds will heal, but they will never fully disappear,' Wagner said. 'Those who have suffered the most are watching. They are expecting this agreement to be respected, and we cannot fail them.' Nduhungirehe noted the 'great deal of uncertainty' because previous agreements were not put in place. 'There is no doubt that the road ahead will not be easy,' he said. 'But with the continued support of the United States and other partners, we believe that a turning point has been reached.' They, along with Rubio, lauded the support of the Gulf Arab nation of Qatar in facilitating the agreement, which Doha has been working on for months at the request of the U.S. and others. The agreement has provisions on territorial integrity, prohibition of hostilities and the disengagement, disarmament and conditional integration of non-state armed groups. Asked in the Oval Office about violations of the agreement, Trump said he didn't think that would happen but also warned of 'very severe penalties, financial and otherwise,' if it did. The peace deal is not likely to end the conflict quickly The Rwanda-backed M23 rebel group is the most prominent armed group in the conflict, and its major advance early this year left bodies on the streets. With 7 million people displaced in Congo, the United Nations has called it 'one of the most protracted, complex, serious humanitarian crises on Earth.' Congo hopes the U.S. will provide it with the security support needed to fight the rebels and possibly get them to withdraw from the key cities of Goma and Bukavu, and from the entire region where Rwanda is estimated to have up to 4,000 troops. Rwanda has said that it's defending its territorial interests and not supporting M23. M23 rebels have suggested that the agreement won't be binding for them. The rebel group hasn't been directly involved in the planned peace deal, although it has been part of other ongoing peace talks. Corneille Nangaa, leader of Congo River Alliance — known by its French acronym AFC — which includes M23, told The Associated Press in March that direct peace talks with Congo can only be held if the country acknowledges their grievances and that 'anything regarding us which are done without us, it's against us.' An M23 spokesperson, Oscar Balinda, echoed that to the AP this week. Nduhungirehe pointed to separate talks happening in Qatar that are meant to get both Congo and the M23 rebels to agree among themselves how they will end the fighting. He also said Rwanda agreed to lift its 'defensive measures.' It was not clear if he meant withdrawing the troops that Rwanda has said are defending its territorial interests. Rwanda also has been accused of exploiting eastern Congo's minerals, used in smartphones, advanced fighter jets and much more. Rwanda has denied any involvement, while analysts say that might make it difficult for Rwanda not to be involved in the region. The deal is at the heart of the U.S. government's push to counter China in Africa. For many years, Chinese companies have been a key player in Congo's minerals sector. Chinese cobalt refineries, which account for a majority of the global supply, rely heavily on Congo. What the US role looks like in ending the conflict Congo's foreign minister said the U.S. has proven to be a 'reliable partner' during the peace process and on other issues in relations between the two countries. 'So there is no doubt in this moment, if you want, when it comes to the credibility of the U.S. as a partner, be it for a peace process, where we have signed a very important agreement today, or for investment from the U.S.,' Wagner told the AP in an interview Friday evening. Analysts say the U.S. government's commitment might depend on how much access it has to the minerals being discussed under separate negotiations between the American and Congolese governments. The mostly untapped minerals are estimated to be worth as much as $24 trillion by the U.S. Department of Commerce. Christian Moleka, a political scientist at the Congolese think tank Dypol, called the deal a 'major turning point' but said it could 'in no way eliminate all the issues of the conflict.' 'The current draft agreement ignores war crimes and justice for victims by imposing a partnership between the victim and the aggressor,' he said. 'This seems like a trigger-happy proposition and cannot establish lasting peace without justice and reparation.' In Congo's North Kivu province, the hardest hit by the fighting, some believe that the peace deal will help resolve the violence but warn justice must still be served for an enduring peace. 'I don't think the Americans should be trusted 100%,' said Hope Muhinuka, an activist from the province. 'It is up to us to capitalize on all we have now as an opportunity.' The conflict can be traced to the aftermath of the 1994 genocide in Rwanda, where Hutu militias killed between 500,000 and 1 million ethnic Tutsi, as well as moderate Hutus and Twa, Indigenous people. When Tutsi-led forces fought back, nearly 2 million Hutus crossed into Congo, fearing reprisals. Rwandan authorities have accused the Hutus who fled of participating in the genocide and alleged that elements of the Congolese army protected them. They have argued that the militias formed by a small fraction of the Hutus are a threat to Rwanda's Tutsi population. Since then, the ongoing conflict in east Congo has killed 6 million people, in attacks, famines and unchecked disease outbreaks stemming from the fighting.
Japan Times
3 hours ago
- Japan Times
Tariff deals could be wrapped up by Sept. 1, Bessent says as talks pick up
U.S. Treasury Secretary Scott Bessent said on Friday the Trump administration's various trade deals with other countries could be done by the Sept. 1 Labor Day holiday, citing talks with 18 main U.S. trading partners and new revisions to a deal with China aimed at expediting rare earths shipments. After a week where tariffs took a back seat to the U.S. strike on Iran's nuclear facilities and the massive tax and spending bill in Congress, the Trump administration's trade negotiations have picked up. The United States sent a new proposal to the European Union on Thursday and India sent a delegation to Washington for more talks. "So we have countries approaching us with very good deals," Bessent said on Fox Business Network. "We have 18 important trading partners. ... If we can ink 10 or 12 of the important 18, there are another important 20 relationships, then I think we could have trade wrapped up by Labor Day," Bessent said. He did not mention any changes to a July 9 deadline for countries to reach deals with the United States or see tariffs spike higher, but has previously said that countries negotiating in good faith could get deals. But President Donald Trump told reporters at the White House that he could extend the tariff deadline or "make it shorter," adding that within the next week and a half, he would notify countries of their tariff rates. "I'd like to just send letters out to everybody: Congratulations. You're paying 25%" tariffs. Bessent said the United States and China had resolved issues surrounding shipments of Chinese rare earth minerals and magnets to the U.S., further modifying a deal reached in May in Geneva. As part of its retaliation against new U.S. tariffs, China suspended exports of a wide range of critical minerals and magnets, upending supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. During U.S.-China talks in May in Geneva, Beijing committed to removing the measures imposed since April 2, but those critical materials were not moving as fast as agreed, Bessent said, so the U.S. put countermeasures in place. "I am confident now that we — as agreed, the magnets will flow," Bessent said, adding that these materials would go to U.S. firms that had received them previously on a regular basis. He did not disclose details of the latest agreement, which Trump administration officials said was reached earlier this week. Efforts to resolve the dispute included a phone call between Trump and Chinese leader Xi Jinping that led to teams from both sides meeting again in London, as negotiators try to end a trade war between the world's biggest economies. China's Commerce Ministry said Friday the two countries have confirmed details on the framework of implementing the Geneva trade talks consensus. It said China will approve export applications of controlled items in accordance with the law. It did not mention rare earths. China has dual-use restrictions in place on rare earths which it takes "very seriously" and has been vetting buyers to ensure that materials are not diverted for U.S. military uses, according to an industry source. This has slowed down the licensing process. The Geneva deal faltered over China's curbs on critical minerals exports, prompting the Trump administration to respond with export controls of its own preventing shipments of semiconductor design software, ethane, engines for Chinese-made aircraft and other goods to China. The U.S.-China negotiations have yet to delve into the Trump administration's core complaints about China's state-led, export-driven economic model with just over six weeks to go before the Geneva tariff truce expires on Aug. 10. News of the latest revision to the China deal comes as Trump has a meeting scheduled Friday with the foreign ministers of the Democratic Republic of Congo and Rwanda, two African nations that are rich in critical minerals. Indian government sources said that a trade delegation from New Delhi was back in Washington on Friday aiming to sew up a limited U.S. trade deal ahead of the July 9 deadline. Trump administration officials frequently count India among countries with which trade talks are at an advanced stage, along with Japan. But early optimism about a simple deal to reduce India's high tariffs has hit roadblocks over disagreements on U.S. import duties for auto parts steel and farm goods, Indian officials with direct knowledge said. The U.S. Trade Representative's office did not immediately respond to queries on talks with India or the European Union. Trump said that his administration was looking to get a "full trade barrier dropping" deal with India. "I'm not sure that that's going to happen, but as of this moment, we've agreed to that — go into India and trade," Trump said. The latest negotiating activity comes amid signs on Friday that uncertainty over Trump's tariffs is starting to take a toll on the economy. U.S. consumer spending unexpectedly fell in May as the boost from the pre-emptive buying of goods like motor vehicles ahead of Trump's tariffs faded, while monthly inflation maintained a moderate pace of increase. But Wall Street investors took the consumer spending data as another sign that the Federal Reserve may resume rate cuts in July, sending stock indexes back to record highs. Bessent's more optimistic tone on trade also helped shares, and an influential Wall Street economist who had been a skeptic of Trump's tariffs appeared to reverse course. Torsten Slok, chief economist at Apollo Global Management, asked in a blog: "Has Trump outsmarted everyone on tariffs?" Slok said that extending the deadline by a year would give countries and U.S. domestic businesses time to adjust to the new world with permanently higher tariffs while reducing uncertainty, which would help markets.
Japan Times
3 hours ago
- Japan Times
U.S. Senate rejects bid to curb Trump's Iran war powers
The Republican-led U.S. Senate rejected a Democratic-led bid on Friday to block President Donald Trump from using further military force against Iran, hours after the president said he would consider more bombing. The Senate vote was 53 to 47 against a war powers resolution that would have required congressional approval for more hostilities against Iran. The vote was along party lines, except Pennsylvania Democrat John Fetterman voted no, with Republicans, and Kentucky Republican Rand Paul voted yes, with Democrats. Sen. Tim Kaine, chief sponsor of the resolution, has tried for years to wrest back Congress' authority to declare war from both Republican and Democratic presidents. Kaine said his latest effort underscored that the U.S. Constitution gives Congress, not the president, the sole power to declare war and requires that any hostility with Iran be explicitly authorized by a declaration of war or specific authorization for the use of military force. "If you think the president should have to come to Congress, whether you are for or against a war in Iran, you'll support Senate Joint Resolution 59, you'll support the Constitution that has stood the test of time," Kaine said in a speech before the vote. Lawmakers have been pushing for more information about weekend U.S. strikes on Iran, and the fate of Iran's stockpiles of highly enriched uranium. Earlier on Friday, Trump sharply criticized Iran's supreme leader, Ali Khamenei, dropped plans to lift sanctions on Iran, and said he would consider bombing Iran again if Tehran is enriching uranium to worrisome levels. He was reacting to Khamenei's first remarks after a 12-day conflict with Israel that ended when the United States launched bombing raids against Iranian nuclear sites. Members of Trump's national security team held classified briefings on the strikes for the Senate and House of Representatives on Thursday and Friday. Many Democratic lawmakers left the briefings saying they had not been convinced that Iran's nuclear facilities had been "obliterated," as Trump announced shortly after the raid. Opponents of the resolution said the strike on Iran was a single, limited operation within Trump's rights as commander-in-chief, not the start of sustained hostilities. Sen. Bill Hagerty, a Tennessee Republican who served as ambassador to Japan during Trump's first term, said the measure could prevent any president from acting quickly against a country that has been a long-term adversary. "We must not shackle our president in the middle of a crisis when lives are on the line," Hagerty said before the vote. Trump has rejected any suggestion that damage to Iran's nuclear program was not as profound as he has said. Iran says its nuclear research is for civilian energy production. Under U.S. law, Senate war powers resolutions are privileged, meaning that the chamber had to promptly consider and vote on the measure, which Kaine introduced this month. But to be enacted, the resolution would have had to pass the Senate as well as the House of Representatives, where Speaker Mike Johnson, a close Trump ally, said this week he did not think it was the right time for such an effort. During Trump's first term, in 2020, Kaine introduced a similar resolution to rein in the Republican president's ability to wage war against Iran. That measure passed both the Senate and House of Representatives, with some Republican support, but did not garner enough votes to survive the president's veto.
