《Financial Times》: US Officials Seek to Narrow Trade Agreement Scope, Aim to Reach Agreement by July 9

BlockBeats News, July 1st - According to the Financial Times, on July 1st, Trump's senior trade officials are scaling back their ambitions for a comprehensive deal with foreign powers and seeking a narrower agreement to avoid the U.S. reimposing tariffs. Four sources said U.S. officials are seeking phased agreements with the most engaged countries, aiming to secure deals by July 9th. The new, more limited agreement plans signal the White House's abandonment of the commitment made in April by the president to reach 90 trade agreements during a 90-day pause in comprehensive "reciprocal" tariffs. However, it also provides some countries an opportunity to reach a modest agreement.

Sources said that the BRICS countries are seeking to reach "principle agreements" on a few trade disputes before the deadline. Countries agreeing to these narrower agreements would be spared harsher reciprocal tariffs but would still be subject to the existing 10% tariffs, while negotiations on more contentious issues continue. However, the negotiations remain complex, and the U.S. government is still considering tariffs on key industries. (FXStreet)