The Trump administration is actively engaging in trade negotiations, receiving 18 written offers from foreign trade ministers. National Economic Council Director Kevin Hassett emphasized that the administration will take its time to finalize deals, ensuring they are well-considered rather than rushed. With strict deadlines approaching, countries must finalize agreements by July 8 to avoid steep tariffs. This shift approaches trade negotiations with a sense of urgency, contrasting the slower pace of previous trade agreements like NAFTA, which took nearly two years to renegotiate into the USMCA, reflecting a preference for rapid resolution.
The Trump administration has received 18 written offers from foreign trade ministers this week, making rapid progress, according to National Economic Council Director Kevin Hassett.
Hassett emphasized that the deals now being pursued will not be rushed but rather "carefully thought-out deals in anticipation of the actions that the president took."
If countries fail to reach agreements by July 8, they could be subject to large customized tariff rates unveiled earlier this month.
The Trump administration is looking for rapid deals with numerous countries, which differ from traditional agreements requiring congressional approval.
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