Trump administration officials signaled this week that they might allow trade talks to extend beyond a July 8 deadline set by the president, as U.S. officials negotiate with over a dozen countries on trade terms.
Treasury Secretary Scott Bessent said in an interview on Fox Business Friday morning that negotiations with trading partners could be “wrapped up by Labor Day,” adding that “nothing gets done in Washington well in advance.”
The United States has been negotiating with roughly 18 trading partners, including the European Union, Japan, Vietnam, India and Malaysia. Foreign governments have been trying to strike deals to avoid steep global tariffs, which President Trump first announced in April but then paused for 90 days.
That pause is set to expire on July 8. Administration officials have not clarified whether they would extend the tariff deadline for all countries, or just some of them. The White House did not immediately respond to a request for comment.
But as negotiations drag on, the administration has recently sought to downplay the significance of the quickly approaching deadline. Karoline Leavitt, the press secretary, also said Thursday that the July deadline was “not critical.”
“With all things, they get done at the end,” Mr. Bessent said on the Fox Business Network, adding that progress is being made on about a dozen additional trade deals beyond China and Britain. “I think we can have trade wrapped up by Labor Day.”
The Trump administration announced a framework agreement with Britain in May and has been moving closer to preliminary agreements with a handful of other countries, including Vietnam. Mr. Trump said on Thursday that the United States was close to announcing a trade deal with India.
But trade experts have expressed skepticism that these deals will be very substantive. Trade deals typically take years to negotiate, and some talks have become bogged down over historically difficult issues, including Mr. Trump’s plans to impose more tariffs on electronics, pharmaceuticals and other products from those nations.
Mr. Bessent said that a lot of countries were feeling pressure and reiterated that Mr. Trump was willing to return to the “Liberation Day” tariff rates if counterparts do not come forward with strong offers. He added that Howard Lutnick, the Commerce secretary, is getting closer on about 10 other agreements and that the United States has 18 important trading partners that are considered to be top priorities.
Despite the optimistic tone, Mr. Bessent has been saying for weeks that trade deals were imminent. In May, he suggested that “more and more” would be announced ahead of the initial 90-day deadline. The Treasury secretary has been particularly frustrated by the pace of talks with the European Union, which he said this month was “intractable” in negotiations.
Ana Swanson covers trade and international economics for The Times and is based in Washington. She has been a journalist for more than a decade.
Alan Rappeport is an economic policy reporter for The Times, based in Washington. He covers the Treasury Department and writes about taxes, trade and fiscal matters.
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