US, awaiting trade offers - Seeks proposals from partners to reach agreement on tariffs
The Trump administration wants countries to submit their best offer for trade negotiations by Wednesday, as officials seek to accelerate talks with partners ahead of a self-imposed deadline of just five weeks.
The draft, from the office of the United States Trade Representative, provides details on how President Donald Trump plans to conclude difficult negotiations with dozens of countries, which began on April 9 when he suspended his tariffs for 90 days, until July 8. That came after stock, bond and currency markets revolted over the sweeping nature of the taxes.
The document reflects the urgency within the administration to complete the deals by the deadline. While some US officials have repeatedly promised that some deals were close to being finalized, only one pact has been reached so far, with the UK. Even that limited pact was more like a framework for ongoing talks than a final agreement.
In the draft, the United States is asking countries to list their best proposals in a number of key areas, including tariff and quota offers for purchasing American industrial and agricultural products, as well as plans to correct any non-tariff barriers.
Other items required include any commitments on digital trade and economic security, along with country-specific commitments.
The US will assess the responses within days and offer "a possible compromise area" that could include a reciprocal tariff rate.
It was not clear which countries would receive the letter, but it was aimed at them with active negotiations that included meetings and document exchanges. Washington has engaged in such talks with the European Union, Japan, Vietnam and India, among others.
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