White House Races For Trade Deals As Global Tariff Deadline Nears
With just 10 days left before a self-imposed tariff deadline, the White House is scrambling to finalise trade agreements with key US partners as President Donald Trump threatens sweeping new tariffs on nations that fail to make a deal by July 9.
Reuters reported that Trump’s team is working to complete limited pacts with up to a dozen countries, according to top advisors. But insiders say the agreements, much like recent deals with China and the UK, are unlikely to resolve major trade disputes and will instead cover select sectors, leaving larger issues unresolved.
For nations that don’t reach agreements by the deadline, the administration is prepared to raise tariffs beyond the 10% baseline introduced during a three-month negotiation pause.
“We can do whatever we want,” Trump said at a White House press conference, hinting he may impose tariffs even before July 9.
Countries reportedly close to agreements include Taiwan, Indonesia, South Korea, Vietnam and potentially India and the European Union. Still, many allies remain wary, as uncertainty looms over additional tariffs on key sectors such as semiconductors, pharmaceuticals and commercial aircraft.
The administration’s approach has injected fresh volatility into global markets as businesses and investors brace for potential disruptions.
Treasury Secretary Scott Bessent signalled that countries negotiating “in good faith” may avoid harsher penalties, but provided few specifics. Others could face a return to the higher tariff rates that were in effect prior to April 2.
The legal foundation of the tariffs remains in flux. A May ruling from the US Court of International Trade found most of Trump’s emergency tariffs unlawful. However, the levies remain in place pending appeal, with a final decision expected later this summer.
Despite the chaos, the White House appears committed to securing as many deals as possible before the deadline, prioritising speed over substance. For Trump, the optics of deal-making, no matter how limited, may prove just as important as the deals themselves.
