Two weeks from President Donald Trump¡¯s self-imposed deadline to reach deals with the U.S.¡¯s major trading partners, some of the most-watched talks aimed at clinching agreements to avoid higher tariffs are struggling to get over the finish line.
There¡¯s a lot at stake: As of July 9, exporting nations without a bilateral accord in place will face Trump¡¯s so-called ¡°Liberation Day¡± tariffs that are much higher than the current baseline 10% level applied to most countries.
Only the U.K. has secured something on paper, though that pact kept the 10% so-called reciprocal rate in place and left unresolved one of Britain¡¯s pain points ¡ª 25% steel duties. On a separate track is China, which has a fragile truce with the U.S. that extends into mid-August to give time for negotiations to play out.
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