The US intends to conclude up to 10 new trade agreements with key partners in the coming months. This was announced by US Treasury Secretary Scott Besant in an interview with Fox Business.
In response to a question about the prospects for new agreements, Besant noted that negotiations are accelerating due to the creation of maximum pressure from the US. “US President Donald Trump has created maximum leverage for negotiations, saying that if there is no agreement, he is ready to return tariffs to the level of April 2. As a result, countries are coming to us with very good offers,” the minister said.
Bessent stressed that the United States has already made progress in negotiations with Britain and China and is now seeking to conclude 10 or 12 agreements with 18 major trading partners. “If we formalize these deals and a number of other important agreements, I think we will be able to complete the trade program by Labor Day (celebrated in the United States on September 1)“, he added.
According to the minister, the new trade policy, together with tax reforms and deregulation, will create a serious stimulus for the growth of the American economy.
Meanwhile, US Commerce Secretary Howard Lutnick said on Thursday that China will resume supplies of rare earth elements to the United States as a result of the signing of the new agreement. For its part, the United States will lift its countermeasures, he confirmed. In addition, the head of the department stressed that Washington plans to conclude agreements with 10 of its main foreign trade partners in the very near future.
Earlier, the Chinese Ministry of Commerce announced that the United States will lift some restrictive measures against China as a result of agreements reached during trade negotiations between the two countries. Beijing expects the United States and China to find common solutions, following the important consensus of the heads of state and the demands expressed during their phone call on June 5. The Chinese side hopes that Beijing and Washington will strengthen consensus, reduce misunderstandings, develop cooperation, and jointly promote the healthy, stable and sustainable development of trade and economic relations between the two countries.
US President Donald Trump said that the US signed a new trade agreement with China on June 25.