Trump’s tariff deadline spurs frenzy among Asian countries to seal deals
While some countries could clinch trade deals with Trump before August 1, others may miss the deadline and face higher tariffs, analysts say
Trump recently sent letters to trading partners to warn that new tariffs would be imposed by the date if they failed to offer better terms following an extension of the original July 9 deadline.
His demand has set off a flurry of negotiations between Washington and trade officials around the world, with some countries managing to secure agreements in recent days. But most of the other affected countries are still involved in difficult and drawn-out negotiations with the US.
It is unlikely that the US could conclude deals with its trade partners before the new deadline, according to analysts.
“Striking trade deals takes time and attention, and the US simply lacks the capacity to negotiate so many trade deals in so short a time,” said Pushan Dutt, an economics and political science professor at INSEAD.