The U.S. is about to announce several trade agreements, and the Treasury Secretary said decisions will be made in the coming days.

Reuters: The US is about to announce several trade agreements, the Treasury Secretary says it will be clear in the coming days

Reuters reported on July 6 that US Treasury Secretary Scott Bensons said on Sunday that the US is about to reach several trade agreements before the July 9 deadline, and expects major announcements in the coming days to avoid resuming the higher tariff rates set on April 2nd from August 1st. Bensons revealed on a CNN program that President Trump will send letters to 100 small countries with less trade with the US, warning that if no progress is made, their tariffs will be restored to the level of April 2nd, which is a base rate of 10%, with some goods facing additional rates as high as 50%; currently these tariffs have been suspended until July 9 to allow for negotiation time. Kevin Hassett, Chairman of the White House National Economic Council, added on a CBS program that the deadline may be extended for countries that are seriously negotiating, "there is a deadline, some things are close, so maybe things will be delayed after the deadline." Stephen Miller, Chairman of the White House Council of Economic Advisers, commented on ABC News that negotiations with Europe and India are progressing well, "I heard good news about negotiations with Europe, I heard good news about talks with India," and emphasized that countries need to make concessions to get lower tariffs, for example, the Vietnam agreement was called "very one-sided" by Miller, allowing the US to impose high tariffs on Vietnamese exports while Vietnam opens its market to US goods with zero tariffs. In terms of specific data, Thailand is negotiating to avoid a 36% tariff, planning to expand market access for US agricultural and industrial products, and increase purchases of US energy and Boeing aircraft; India may finalize a small trade agreement within 24 to 48 hours, with an average tariff on its exports to the US of 10%. Bensons denied the rumor of a 70% tax rate, only mentioning the maximum 50% tax rate on the list from April 2nd, and said the government is negotiating with 18 important trading partners, which account for 95% of the US trade deficit, but refused to reveal the specific country names to avoid affecting the process.

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