US President Donald Trump on Wednesday signaled a possible extension of the July 8 deadline for securing trade agreements with key US trading partners, though he said it may not be necessary. Trade negotiations are currently underway with around 15 countries, including South Korea, Japan, and the EU, according to Xinhua.
US Treasury Secretary Scott Bessent told lawmakers the extension is “highly likely” to allow more time for deals. According to Bessent, 18 major trading partners are engaged in talks, and the US plans to send proposals to several others within weeks.
The July 8 deadline stems from a 90-day pause on proposed reciprocal tariffs affecting over 60 countries, initiated on April 9. So far, only a trade agreement with the UK has been finalized, Xinhua reported.
