U.S. considers extending tariff suspension amid trade negotiations
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, as long as key trading partners demonstrate 'sincerity' in ongoing negotiations. Speaking at a House Ways and Means Committee hearing in Washington, Besant emphasized that the U.S. is committed to efforts to reach agreements with 18 'significant trading 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 stressed that if any party is unwilling to negotiate, the U.S. will not engage in talks.
So far, officials in the Trump administration have not indicated a willingness to extend the tariff suspension if 'terms of agreement' are not reached before the deadline. Besant's comments suggest that as the deadline approaches, the administration may be more inclined to adjust its self-imposed timeline.$BTC
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