Export preparations for Asian countries leading temporary trading competition to avoid tariffs
These countries are less likely, and the interim agreement is designed to avoid rebates from the most punitive U.S. tariffs before the 90-day grace period expires in early July. This will allow Trump to succeed quickly in his destructive trade policy.
Treasury Secretary Scott Bessent said in a speech with George Stephanopoulos this week that the United States, including China, has 18 important U.S. trading partners, including China, in “special negotiations.”
Over the other 17 days, Best said, “We had a process in the next 90 days where we could negotiate with them.” “Some of them were going very well, especially in Asian countries.”
Last week, Best said the United States and South Korea could reach a “understanding agreement” on trade this week. South Korean officials said they viewed early July as the initial deadline for any specific agreement that restricts tariffs at least. The United States and South Korea signed a free trade agreement in 2007 that took more than a year to hammer, and it took 2011 until 2011 to ratify Congress. It then held several months of renegotiation under the Trump administration’s first administration in 2018. With the United States and China still at a deadlock and other major Asian economies, the faster Asian economies are mapped, and the U.S. trading partners in North America and Europe are still trying to understand the basic parameters. This includes the scope of negotiations and the scope of implementing trade policies in Washington, while not sounding too worried about speed. For them, the risk of seeking first step advantages, given Trump’s impatience to China’s firm response and response to conversations and resistance, a sense of patience is a more cautious approach unless Beijing’s conditions are met.
