US shifts to limited trade deals ahead of Trump's looming tariff deadline, FT reports
Countries that agree on narrower deals would be spared the harsher reciprocal tariffs, but left with an existing 10 per cent levy while talks on thornier issues continue, the FT said.
Trump's reciprocal tariffs are set to kick in on July 9, after a 90-day pause.
With only a limited deal with Britain completed so far, Trump has repeatedly threatened just to send a series of letters to trading partners identifying what their new tariff rate will be after the deadline. Treasury Secretary Scott Bessent has said the risk of tariffs going up next week is real.
The FT added that the Trump administration would seek 'agreements in principle' on a small number of trade disputes ahead of the deadline, and that the administration was also still considering imposing additional tariffs on critical sectors.
Trump has said his July 9 trade deadline was not a fixed date, telling reporters last week at the White House that it could be sooner or later than that date, when wider US tariffs are set to be re-imposed if deals are not reached.
The White House and the US Commerce Department did not immediately respond to Reuters' requests for comment. Reuters could not immediately verify the FT report. — Reuters
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