Trump Steps Up Pressure For Deals As US Tariff Deadline Nears
Trump is due to send a first batch of letters to up to 15 trading partners from noon local time (1600 GMT), warning that US levies on imports will snap back to elevated levels if foreign governments fail to reach agreements with Washington.
The duties will not bounce back until August 1, Treasury Secretary Scott Bessent said over the weekend, a move that appears to give more room for dealmaking.
Trump imposed a 10 percent tariff on imports from almost all trading partners in early April, but some economies including the European Union were slated to have this rate increase further.
As markets plunged at the time, Trump halted the steeper levies to allow for talks. That pause expires on Wednesday.
"We are going to have several announcements in the next 48 hours," Bessent told CNBC in an interview Monday.
"We've had a lot of people change their tune in terms of negotiations. So my mailbox was full last night with a lot of new offers, a lot of new proposals," Bessent said.
He reiterated that higher tariff rates for countries would not return until August 1.
There was no immediate response from the White House on whether Trump would formally extend the Wednesday deadline.
Asked about the letters Trump plans to send out, Bessent said these would inform partners of the tariff rate their products face when trading with the United States, unless they want to "come back and try to negotiate."
While the Trump administration has signaled hopes of striking dozens of deals by early July, there have been limited results so far.
Washington has unveiled pacts only with Britain and Vietnam, while the United States and China agreed to temporarily lower tariff levels on each other's products that earlier reached three-digits.
Bessent told CNBC Monday that he would "be meeting with my Chinese counterpart sometime in the next couple of weeks."
The two sides have so far held high-level talks in Geneva and London.
But Washington and Beijing's pause on tit-for-tat tariffs is due to expire in mid-August.
On whether he was disappointed in the number of trade deals achieved so far, Trump's trade adviser Peter Navarro maintained that he is "happy with the progress we've had."
"Every country that we run a major deficit with is fully engaged," he told CNBC on Monday.
On Sunday night, Trump wrote on his Truth Social platform that Washington would deliver "tariff letters" or deals to various countries on Monday.
In a separate post that night, Trump threatened another 10 percent tariff on countries aligning themselves with the emerging BRICS nations, accusing them of "Anti-American policies" after they slammed his duties at a summit.
For now, partners are still rushing to avert Trump's tariffs altogether.
The European Commission said that EU chief Ursula von der Leyen had a "good exchange" with Trump on trade when the pair spoke Sunday.
Japan's Prime Minister Shigeru Ishiba, however, said Sunday that he "won't easily compromise" in trade talks with Washington.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Int'l Business Times
an hour ago
- Int'l Business Times
Trump Explodes After Reporter Asks 'Unbelievable' Epstein Question: 'Are People Still Talking About This Guy?'
During a Cabinet meeting at the White House on Tuesday, President Donald Trump erupted after a reporter directed a question about Jeffrey Epstein to U.S. Attorney General Pam Bondi. The reporter asked Bondi whether Epstein had ever worked for an American or foreign intelligence agency following the Department of Justice's controversial two-page memo released Sunday night. The reporter also pressed her to explain why a minute was missing from the surveillance tapes that the administration claims definitively prove Epstein died by suicide in 2019. Bondi began to respond, but before she could continue, President Trump interjected, asking if he could interrupt. "Are you still talking about Jeffrey Epstein? This guy's been talked about for years," Trump said, while Bondi remained stone-faced. "You're asking—we have Texas, we have this, we have all of the things, and are people still talking about this guy? This creep?" he continued, despite the late disgraced financier claiming he was "Donald's closest friend for 10 years" in 2017. "That is unbelievable," Trump added, before turning to Bondi and asking if she wanted to "waste time" answering the question. "I mean, I can't believe you're asking a question about Epstein at a time like this, when we're having some of the greatest success, and also tragedy, with what happened in Texas," the president said. "It just seems like a desecration, but you go ahead." Bondi went on to clarify remarks she made during a February interview on Fox News, where she claimed the Epstein client list was "sitting on her desk to be reviewed." She said her comment referred to that file along with the John F. Kennedy assassination and 9/11 documents. The attorney general further stated that the tens of thousands of hours of footage in the Epstein case were "child porn downloaded by that disgusting Jeffrey Epstein. Child porn is what they were. Never gonna be released. Never gonna see the light of day," she added. Bondi also said she had no knowledge of Epstein working for any intelligence agency but added, "I can get back to you on that." Regarding the missing minute in the surveillance footage, she acknowledged the video itself was not conclusive but maintained that other evidence confirmed Epstein died by suicide. She attributed the missing minute to outdated, 1990s-era prison video technology, claiming, "Every night should have the same minute missing," and said investigators were reviewing additional footage to support that explanation. "And that's it on Epstein," the attorney general declared. Originally published on Latin Times
Int'l Business Times
2 hours ago
- Int'l Business Times
JD Vance Pushed for Answers on Epstein's 'Wealthiest and Most Powerful' Clients in Resurfaced Tweet
A resurfaced tweet from September 2021 shows now–Vice President JD Vance publicly questioning why the full extent of sex offender Jeffrey Epstein's alleged ties to elite figures was never investigated. "Remember when we learned that our wealthiest and most powerful people were connected to a guy who ran a literal child sex trafficking ring? And then that guy died mysteriously in a jail? And now we just don't talk about it," Vance posted. At the time, Vance also cited an article by columnist Matthew Walther exploring why many Americans were drawn to conspiracy theories like Pizzagate, naming the Epstein scandal as key in fueling public distrust. "Was Trump speaking from personal experience when he said in 2002 that Epstein 'likes beautiful women as much as I do, and many of them are on the younger side'?" Walther asked in the 2019 article. The resurfaced tweet takes on a new relevance this week as it stands in contrast to the Trump administration's recent Justice Department memo concluding Epstein had no "client list," no blackmail material and died by suicide — findings that have angered many MAGA-aligned commentators who have supported Trump since his 2016 campaign promise to "drain the swamp." With his second election, Trump's pick for FBI Director was Kash Patel, who promised to "roll out the black book" of Epstein's clients "on day one." Trump further signaled his commitment to transparency with an executive order to declassify files related to the assassinations of John F. Kennedy, Robert F. Kennedy and Martin Luther King Jr. But action regarding the Epstein files has been less decisive, with suspicion mounting with each delay of revelatory details. Tesla CEO Elon Musk heightened speculation when he accused the president of refusing to release the Epstein files because of his alleged personal involvement. Musk later deleted the tweet, but continues to comment critically about the administration's handling of the declassification process. With the DOJ now insisting there's nothing to reveal, the administration's previous messaging on Epstein faces renewed scrutiny. Vance's past misgivings regarding the "wealthiest and most powerful people" associated with Epstein only fuel skepticism of the DOJ's insistence that there's nothing to reveal. Vance has not publicly addressed the apparent tension between his past call for accountability and the administration's current official stance. Originally published on Latin Times
Int'l Business Times
2 hours ago
- Int'l Business Times
Death Toll In Texas Floods Climbs To 108, With More Rain Expected
Hundreds of rescuers on Tuesday continued their search for people swept away by catastrophic Texas floods that killed more than 100 people, officials said, amid threats of more heavy rain. As of Tuesday morning, authorities in worst-hit Kerr County had recovered the bodies of 87 victims, Sheriff Larry Leitha told reporters. The deceased include at least 27 girls and counselors who were staying at a youth summer camp on the Guadalupe River over the Fourth of July holiday weekend. "At present, five Camp Mystic campers and one counselor still remain unaccounted for," Leitha added. At least 108 flood-related deaths were reported across central Texas, according to local officials. During a Cabinet meeting, President Donald Trump said he would travel to Texas with First Lady Melania Trump on Friday, and credited his strong ties with the state's Republican governor as having helped the rescue effort. "We brought in a lot of helicopters from all over... They were real pros, and they were responsible for pulling out a lot of people. And we got them there fast, and Texas had some good ones too, but the response has been incredible," Trump said. Trump, who previously said that disaster relief should be handled at the state level, earlier this week signed a major disaster declaration, activating fresh federal funds and freeing up resources. Ben Baker with the Texas Game Wardens said search and rescue efforts involving helicopters, drones and dogs were extremely difficult because of the water and mud. "When we're trying to make these recoveries, these large piles can be very obstructive, and to get in deep into these piles, it's very hazardous," Baker said. "It's extremely treacherous, time-consuming. It's dirty work, the water is still there." He added that special attention was being paid to the first responders' mental state, particularly given that the bodies of children were being recovered. In the town of Hunt, the epicenter of the disaster, an AFP team saw recovery workers combing through piles of debris with helicopters flying overhead, as hopes dimmed for finding any survivors. Javier Torres, 24, was digging through mud as he searched for the body of his grandmother, after having located the remains of his grandfather. He also discovered the bodies of two children, apparently washed up by the river. Officials warned that with more heavy rain forecast, recovery efforts would be rendered even more difficult. "We've had some reports of maybe some additional water coming in, obviously, that's going to impact the search and recovery efforts," said Baker. He said the weather may impact aerial patrol patterns, but "it won't deter them." Meanwhile, questions intensified over whether Trump's funding cuts had weakened warning systems, and over the handling of the rescue operation. During an at-times tense news conference, Baker skirted a question on the speed of the emergency response. "Right now, this team up here is focused on bringing people home," he said. Shel Winkley, a weather expert at the Climate Central research group, blamed the extent of the disaster on geography, the remnants of tropical storm Beryl, and exceptional drought, when dry soil absorbs less rainfall. "This part of Texas, at least in the Kerr County flood specifically, was in an extreme to exceptional drought. So that's the worst drought conditions that you can have, and we know that since May, temperatures have been above average," Winkley told reporters. The organization's media director, Tom Di Liberto, said staffing shortages at the National Weather Service had contributed to the disaster. "What happens, and this is shared not only in Texas but weather forecast offices across the country, is that the people with the most experience dealing with these extreme (events), but also communicating it, have left in a lot of places, so you can't necessarily replace that experience," Di Liberto said. A search and recovery team prepares a fan boat to launch on Guadalupe River in Ingram, Texas AFP Debris lays along the Guadalupe River after flash flooding in central Texas with more than 100 fatalities reported AFP
