According to Odaily, U.S. Treasury Secretary Besant stated on Wednesday that the Trump administration is open to extending the current 90-day tariff suspension beyond July 9, provided that major trade partners demonstrate 'sincerity' in ongoing negotiations. Speaking at a House Ways and Means Committee hearing in Washington, Besant highlighted that the U.S. is engaged in efforts to reach agreements with 18 'significant trade partners.'
For countries and trade groups, such as the European Union, that are 'negotiating in good faith,' there is a strong possibility that the U.S. will 'extend the deadline to continue sincere negotiations.' Besant emphasized that if any party is unwilling to negotiate, the U.S. will not engage in talks.
Until now, Trump administration officials have not indicated a willingness to extend the tariff suspension if 'agreement terms' are not reached before the deadline. Besant's remarks suggest that as the deadline approaches, the administration may be more inclined to adjust its self-imposed timeline.