The Trump Administration is accelerating the finalization of its trade policy and wants to receive the ‘best offer’ from trading partner countries by Wednesday, according to Reuters who reviewed a draft of a letter containing the information.
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The letter contains requests for countries to provide information on plans for digital trade, country-specific offers, the mitigation of non-tariff measures, and quota offers for industrial and agricultural products produced in the U.S.
U.S. Seeks Urgency in Finalizing Trade Deals
Trump’s pause on his reciprocal tariffs are set to expire on July 8 as the U.S. seeks to finalize trade deals ahead of the deadline. Once the U.S. receives trade offers, it will negotiate a “possible landing zone” that may contain a baseline reciprocal tariff rate, read the letter. It’s not known which specific countries received the letter, although possible recipients include those the U.S. has been active with in trade talks, such as Japan, the European Union, and India.
The signing of trade deals should benefit the stock market as uncertainties are removed from the playing field. It will also provide companies with exposure to trading partners with clear guidance on how to operate in the future. The market is reacting well to the news, with the S&P 500 (SPX) up by 0.22% at the time of writing.
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