{"id":24183,"date":"2025-05-08T10:19:29","date_gmt":"2025-05-08T10:19:29","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/trump-says-trade-deals-could-come-this-week-heres-what-to-know-as-negotiations-continue\/"},"modified":"2025-05-08T10:19:29","modified_gmt":"2025-05-08T10:19:29","slug":"trump-says-trade-deals-could-come-this-week-heres-what-to-know-as-negotiations-continue","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/trump-says-trade-deals-could-come-this-week-heres-what-to-know-as-negotiations-continue\/","title":{"rendered":"Trump says trade deals could come this week. Here&#8217;s what to know as negotiations continue."},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>President Trump says the U.S. may be close to announcing new tariff agreements as his administration faces pressure to strike deals with major trade partners before a\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-announces-90-day-tariffs-pause\/\" data-invalid-url-rewritten-http=\"\">90-day pause<\/a><\/span>\u00a0on reciprocal tariffs ends on July 9.\u00a0<\/p>\n<p>Since <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/live-updates\/trump-liberation-day-announcement-tariffs\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">announcing a bevy of tariffs<\/a><\/span> from the Rose Garden in early April, President Trump and his team have been in negotiation mode, meeting with foreign leaders from Canada,\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-giorgia-meloni-italy-eu-tariffs-white-house-meeting\/\" data-invalid-url-rewritten-http=\"\">Italy<\/a><\/span>, India, Japan and other key U.S. trading partners. The administration <a href=\"https:\/\/www.cbsnews.com\/news\/tariffs-trump-gallup-poll-inflation-prices\/\" target=\"_blank\" rel=\"nofollow\" data-invalid-url-rewritten-http=\"\">has rolled out tariffs<\/a> in fits and starts over the last few months, creating ongoing\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/stock-market-today-djia-nasdaq-dow-jones-04-25-2025\/\" data-invalid-url-rewritten-http=\"\">market volatility<\/a><\/span>\u00a0and sparking\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/how-do-economists-identify-recession-stagflation\/\" data-invalid-url-rewritten-http=\"\">fears of a U.S. recession<\/a><\/span>.\u00a0<\/p>\n<p>Mr. Trump on Sunday told reporters on Air Force One that &#8220;there very well could be deals this week.&#8221; While testifying in front of the House Appropriations Committee on Tuesday, Treasury Secretary Scott Bessent repeated the same timeline, telling Congress that trade deals could be announced as soon as this week. Neither Mr. Trump nor Bessent provided further details.<\/p>\n<p>In the meantime, <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/tariff-small-businesses-future-jeopardy-price-hikes\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">small businesses<\/a><\/span>, investors and everyday Americans are waiting with bated breath to see how the trade deals will shake out, amid ongoing\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/economic-uncertainty-bad-for-business-trump-tariffs\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">uncertainty<\/a><\/span>\u00a0on where the economy is headed. A\u00a0<a href=\"https:\/\/www.whitehouse.gov\/fact-sheets\/2025\/04\/fact-sheet-president-donald-j-trump-declares-national-emergency-to-increase-our-competitive-edge-protect-our-sovereignty-and-strengthen-our-national-and-economic-security\/\" target=\"_blank\" rel=\"nofollow noopener\">10% baseline tariff<\/a>\u00a0on most imported goods from abroad has been in effect since April 5, while so-called\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-reciprocal-tariffs-liberation-day-list\/\" data-invalid-url-rewritten-http=\"\">reciprocal tariffs<\/a><\/span>\u00a0against other countries \u2014 with the\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-xi-china-tariffs\/\" data-invalid-url-rewritten-http=\"\">exception of China<\/a><\/span>\u00a0\u2014 are on pause for\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-announces-90-day-tariffs-pause\/\" data-invalid-url-rewritten-http=\"\">90 days<\/a><\/span>,\u00a0<\/p>\n<p>By far, the country hit hardest by tariffs is China. Mr. Trump has imposed levies\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-xi-china-tariffs\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">as high as 145%<\/a><\/span> on Chinese imports, with the country firing back with 125% tariffs on American goods. The U.S. trade war with the manufacturing giant is already having an impact on American businesses and consumers. A broad range of enterprises have announced price hikes due to tariffs, while experts warn of pandemic-like\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/chinese-china-products-tariffs-shortages-us\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">supply shortages<\/a><\/span> to come as early as summer.\u00a0<\/p>\n<p>As rumblings from the Trump team indicate some trade agreements might be announced before the week&#8217;s end. Here&#8217;s what to know as negotiations continue.<\/p>\n<h2>Where do negotiations stand?<\/h2>\n<p>While the Trump administration has floated a few different timelines for deals to be announced, it has not specified any dates or countries.<\/p>\n<p>&#8220;I&#8217;d be surprised if we don&#8217;t have more than 80 or 90% of those wrapped up by the end of the end of the year. And that may be much sooner,&#8221; Bessent told lawmakers on Tuesday, referring to countries with which the U.S. has trade deficits.<\/p>\n<p>Some experts, however, believe negotiations will take longer. \u00a0<\/p>\n<p>Han-koo Yeo, a senior fellow with the Peterson Institute for International Economics believes that countries with whom the Trump administration is negotiating will have it in their interest to move slowly in their trade discussions. That&#8217;s because of the longterm implications these deals will have, the former South Korean trade minister told CBS MoneyWatch. \u00a0<\/p>\n<p>Negotiations will likely drag past May into June, according to Ian Bremmer, president of the Eurasia Group, although some countries might be motivated to act quickly.<\/p>\n<p>&#8220;Everyone facing negotiations has been told to submit letters with their &#8216;best offers,'&#8221; Bremmer said in an email to CBS MoneyWatch, &#8220;and smaller countries that desperately want\/need deals are complying.&#8221;<\/p>\n<h2>Who is the U.S. negotiating with?<\/h2>\n<p>Bessent told the House committee Tuesday that the U.S. has 18 &#8220;important trading relationships&#8221; and is currently negotiating with 17 to reach deals. &#8220;Many of our trading partners have approached us with very good offers and we are in the process of renegotiating those,&#8221; he said.<\/p>\n<p>The Trump administration in recent weeks has discussed trade and tariffs with Canada, Italy, India, Japan and the United Kingdom.\u00a0<\/p>\n<p>It&#8217;s unclear which deals will be announced first, but Clayton Allen, who covers politics and policy in Washington for Eurasia Group, said to look for deals with Japan, South Korea, the United Kingdom and India \u2014 countries that have been engaged in trade negotiations with the U.S. the longest.\u00a0<\/p>\n<p>Eurasia predicts a deal with Japan could come in mid-June.<\/p>\n<h2>China absent from negotiations as of yet<\/h2>\n<p>What Bessent did make clear to Congress on Tuesday is that the U.S. has not yet entered into active trade talks with China.\u00a0 President Trump in April said that he had spoken with Chinese President Xi Jinping amid tariff tensions, but\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-xi-china-tariffs\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">China denied<\/a><\/span>\u00a0any talks between Beijing and Washington had taken place.<\/p>\n<p>The Treasury secretary, however, is set to meet with a high-level Chinese delegation this weekend while conducting trade talks in Switzerland, the Trump administration\u00a0<a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/sb0132\" target=\"_blank\" rel=\"nofollow noopener\">announced<\/a>\u00a0Tuesday.\u00a0<\/p>\n<p>A\u00a0<a href=\"https:\/\/x.com\/ChineseEmbinUS\/status\/1919909430939865300\" target=\"_blank\" rel=\"nofollow noopener\">post<\/a>\u00a0from the Chinese Embassy on X confirmed the meeting. &#8220;Based on full consideration of global expectations, China&#8217;s interests, and the appeals of the U.S. business community and consumers, #China has decided to agree to engage with the #US side,&#8221; the posts reads. &#8220;As China&#8217;s lead on China-U.S. economic and trade affairs, Vice Premier He Lifeng will hold talks with U.S. Treasury Secretary Scott Bessent during his visit to #Switzerland from May 9 to 12.&#8221;<\/p>\n<h2>What could trade agreements look like?<\/h2>\n<p>While it&#8217;s hard to predict what any potential tariff deals might include, Yeo, who has helped orchestrate several bilateral and mulitlateral trade negotiations in the past, said such agreements would likely be nonbinding &#8220;gentlemen&#8217;s agreements.&#8221;<\/p>\n<p>In other words, the U.S. could come to an agreement with a trading partner only to renege later on by issuing additional tariffs.\u00a0<\/p>\n<p>&#8220;The framework deal is only as good as the nice piece of paper that you write it down on,&#8221; said Eurasia&#8217;s Allen. &#8220;Trade deals are very, very complex animals, and you&#8217;re going to get probably top line agreement on some key issues of concern with a promise to come back and negotiate other things,&#8221; he said.<\/p>\n<p>Asked by Ohio Rep. Dave Joyce about the format of the deals, Bessent on Tuesday said, &#8220;I expect that we can see a substantial reduction in the tariffs that we are being charged, as well as nontariff barriers, currency manipulation and the subsidies of both labor and capital investment.&#8221;<\/p>\n<p>More details on tariffs may be coming soon. During an Oval Office meeting with Canadian Prime Minister Mark Carney <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-mark-carney-canada-meeting\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">on Tuesday<\/a><\/span>, Mr. Trump said that his team would spell out specific tariff rates for each country \u2014 although he clarified that number could be adjusted in the future.<\/p>\n<p>&#8220;It&#8217;s going to be a very fair number, it&#8217;ll be a low number,&#8221; the President said. &#8220;We&#8217;re not looking to hurt countries, we want to help countries. We want to be friendly with countries.&#8221;\u00a0<\/p>\n<p>    <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation \">\n        <\/aside>\n<p>    <!-- tags --><\/p>\n<div class=\"content-author\">\n      <a href=\"https:\/\/www.cbsnews.com\/team\/mary-cunningham\/\" class=\"content-author__name\" data-invalid-url-rewritten-http=\"\">Mary  Cunningham<\/a><\/p>\n<div class=\"content-author__bio\">\n<div class=\"content-author__full-information\">\n<p class=\"content-author__text\">Mary Cunningham is a reporter for CBS MoneyWatch. Before joining the business and finance vertical, she worked at &#8220;60 Minutes,&#8221; CBSNews.com and CBS News 24\/7 as part of the CBS News Associate Program.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/trump-trade-deals-china-europe-india-uk-tariffs\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Trump says the U.S. may be close to announcing new tariff agreements as his administration faces pressure to strike<\/p>\n","protected":false},"author":1,"featured_media":24184,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[349,6554,799,386,690],"class_list":["post-24183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-watch","tag-china","tag-mark-carney","tag-tariffs","tag-trump-administration","tag-united-kingdom"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trump says trade deals could come this week. 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