The Trump administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters.
The draft, from the office of the United States Trade Representative, provides a window into how President Donald Trump plans to bring to a close unwieldy negotiations with dozens of countries that kicked off on April 9 when he paused his "Liberation Day" tariffs for 90 days until July 8 after stock, bond and currency markets revolted over the sweeping nature of the levies.
The document suggests an urgency within the administration to complete deals against its own tight deadline. While officials such as White House economic adviser Kevin Hassett have repeatedly promised that several agreements were nearing completion, so far only one agreement has been reached with a major U.S. trading partner: Britain. Even that limited pact was more akin to a framework for ongoing talks than a final deal.
According to the draft document, the U.S. is asking countries to list their best proposals in a number of key areas, including tariff and quota offers for purchase of U.S. industrial and agricultural products and plans to remedy any non-tariff barriers.
Other requested items include any commitments on digital trade and economic security, along with country-specific commitments, according to the letter.
The U.S. will evaluate the responses within days and offer "a possible landing zone" that could include a reciprocal tariff rate, according to the letter.
It was unclear to which specific countries the letter would be sent, but it was directed at those where negotiations were active and included meetings and exchanges of documents. Active negotiations have been under way with the European Union, Japan, Vietnam and India, among others.
Posted by John3262005
4 Comments
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India and the UK competed a trade agreement recently, it took three years. The agreement between the UK and Australia after Brexit took a year and a half. These agreements are multi year processes in the best of circumstances where the actors involved are sane. This idiot thinking he can do it with dozens of countries in a couple months is so stupid. I mean even with a friendly country like Japan he can’t get anything done because he can’t articulate what he wants.
> The Japanese have just been in Washington. Their experience apparently was they went to talk to the American leadership on this matter, and the American leadership said ‘what are you offering?’ And the Japanese said ‘well, what is it that you want?’ And the Americans could not explain what they wanted.’
“Best offer”? What are they, auctioning a car? What happens if the countries don’t send any offers?