US President Donald Trump’s administration is reportedly working on delivering a final trade offer with a tight deadline set for Wednesday. The draft letter to various US trading partners aims to speed up trade talks and secure deals that align with Trump’s “America First” campaign pledges.
The White House has temporarily suspended the “Liberation Day” reciprocal tariff package, which was set to come into effect on July 8. However, no major trade agreements have been reached with other countries, including the United Kingdom, whose agreement is largely symbolic and represents a commitment to continue negotiating.
Trump’s tariffs are under threat due to a lawsuit brought against him regarding his use of the IEEPA legal framework. If the court rules that Trump abused this framework, it could impact the effectiveness of his tariffs. The administration is eager to secure an announceable trade concession from a major trading partner to avoid further criticism and uncertainty.
The market is closely watching these developments, with tensions between the US and China remaining high due to their failed trade talks. Investors are advised to conduct thorough research before making any investment decisions, as investing in open markets involves significant risks.
Source: https://www.fxstreet.com/news/trump-administration-sets-wednesday-deadline-for-trade-offers-from-other-countries-202506021934