The U.S. has only signed a few trade deals as the July 9 reciprocal tariffs deadline sits just around the corner. Amid the complexity of negotiating deals and a tight timeframe, the Trump administration is now looking for mini, phased trade deals instead of comprehensive agreements, according to the Financial Times.
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The new goal is a far cry from when the White House promised to secure 90 deals in 90 days, which is the length of the reciprocal tariffs pause.
Tariff Pause Extension Likely for Cooperative Countries
Countries that secure phased trade deals with the U.S. could have their reciprocal tariff pause extended past July 9, according to sources familiar with the matter.
So far, the U.S. has signed trade agreements with the United Kingdom and China. At the same time, the two agreements aren’t complete deals and the U.S. continues negotiations with both countries.
The S&P 500 (SPX) has largely placed the threat of tariffs and a persistent trade war in the rearview mirror. The benchmark index is currently hovering near its all-time high reached on Monday.
