The Trump administration wants other countries to submit their best offers on trade talks by Wednesday, as officials seek to accelerate negotiations with several partners ahead of a five-week deadline for tariffs to take effect again. In this regard, a draft letter has been sent to the negotiating partners.
The draft prepared by the Office of the US Trade Representative gives an indication of how President Donald Trump plans to finalise the complex talks with dozens of countries. These talks started on April 9. When he paused his tariffs for 90 days (until July 8), it caused massive turmoil in the stock, bond, and currency markets.
This document also shows how eager the Trump administration is to complete the trade talks within the deadline. Officials such as White House economic adviser Kevin Hassett have repeatedly promised that many deals are on the way. On the other hand, only one deal has been reached so far with Britain, America’s major trading partner.
According to the draft document, the US is asking other countries to list their best offers in several key areas. These include tariff proposals for purchasing US industrial and agricultural products and plans to remove any non-tariff barriers.