Trump tariffs live updates: Trump says US, China framework ‘signed’ as Bessent targets Labor Day for key deals
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Trump tariffs live updates: Trump says US, China framework ‘signed’ as Bessent targets Labor Day for key deals
The US and China agree to a framework for a full tariff and trade deal. The deal is a significant step in stabilizing trade relations between the two countries. China has confirmed it will deliver rare earths to the US as part of the trade framework. Treasury Secretary Scott Bessent said the US could complete the balance of its most important trade talks by Labor Day. The EU has also come into focus in recent days, with the EU vowing to retaliate if the US sticks with its baseline 10% tariffs.
“We just signed with China yesterday,” Trump said during an unrelated event at the White House, though he did not provide further details. China said “both sides have confirmed further details on the framework.”
The pact marks a significant step in stabilizing trade relations between the two countries, which lapsed into feuding soon after an initial truce in May. China has confirmed it will deliver rare earths to the US as part of the trade framework, and the US will respond by taking down its countermeasures, Commerce Secretary Howard Lutnick told Bloomberg.
Lutnick claimed that trade agreements with 10 key US trading partners are imminent, as countries from Canada to Japan struggle to get over the finish line with just two weeks to go. Treasury Secretary Scott Bessent on Friday said the US could complete the balance of its most important trade talks by Labor Day.
“I think we could have trade wrapped up by Labor Day,” Bessent said in a Fox Business interview.
The Trump administration has signaled a willingness to roll back the self-imposed tariff deadline of July 9 as pressure builds. Stephen Miran, chairman of the White House Council of Economic Advisers, said the tariff pause to be extended for countries negotiating “in good faith.”
“I mean, you don’t blow up a deal that’s that’s in process and making really good faith, sincere, authentic progress by dropping a tariff bomb in it,” Miran told Yahoo Finance.
Trump and officials have warned that he could soon simply hand countries their tariff rates, raising questions about the status of negotiations. Miran said that he doesn’t see the aggregate tariff rate falling materially below the 10% level in the long run, but some countries may negotiate more favorable duties while others will see a return of the steeper “Liberation Day” tariffs.
So far, Trump has firmed up a trade deal with the United Kingdom. Trade talks with the European Union have also come into focus in recent days, with the EU vowing to retaliate if the US sticks with its baseline 10% tariffs. Trump has threatened tariffs of up to 50% on EU imports.
Read more: What Trump’s tariffs mean for the economy and your wallet
Here are the latest updates as the policy reverberates around the world.
LIVE
1271 updates
Trump tariffs live updates: Trump says US, China framework ‘signed’ as Bessent targets Labor Day for key deals
The US and China agree to a framework for a full tariff and trade deal. The deal is a significant step in stabilizing trade relations between the two countries. China has confirmed it will deliver rare earths to the US as part of the trade framework. Treasury Secretary Scott Bessent said the US could complete the balance of its most important trade talks by Labor Day. The EU has also come into focus in recent days, with the EU vowing to retaliate if the US sticks with its baseline 10% tariffs.
“We just signed with China yesterday,” Trump said during an unrelated event at the White House, though he did not provide further details. China said “both sides have confirmed further details on the framework.”
The pact marks a significant step in stabilizing trade relations between the two countries, which lapsed into feuding soon after an initial truce in May. China has confirmed it will deliver rare earths to the US as part of the trade framework, and the US will respond by taking down its countermeasures, Commerce Secretary Howard Lutnick told Bloomberg.
Lutnick claimed that trade agreements with 10 key US trading partners are imminent, as countries from Canada to Japan struggle to get over the finish line with just two weeks to go. Treasury Secretary Scott Bessent on Friday said the US could complete the balance of its most important trade talks by Labor Day.
“I think we could have trade wrapped up by Labor Day,” Bessent said in a Fox Business interview.
The Trump administration has signaled a willingness to roll back the self-imposed tariff deadline of July 9 as pressure builds. Stephen Miran, chairman of the White House Council of Economic Advisers, said the tariff pause to be extended for countries negotiating “in good faith.”
“I mean, you don’t blow up a deal that’s that’s in process and making really good faith, sincere, authentic progress by dropping a tariff bomb in it,” Miran told Yahoo Finance.
Trump and officials have warned that he could soon simply hand countries their tariff rates, raising questions about the status of negotiations. Miran said that he doesn’t see the aggregate tariff rate falling materially below the 10% level in the long run, but some countries may negotiate more favorable duties while others will see a return of the steeper “Liberation Day” tariffs.
So far, Trump has firmed up a trade deal with the United Kingdom. Trade talks with the European Union have also come into focus in recent days, with the EU vowing to retaliate if the US sticks with its baseline 10% tariffs. Trump has threatened tariffs of up to 50% on EU imports.
Read more: What Trump’s tariffs mean for the economy and your wallet
Here are the latest updates as the policy reverberates around the world.
LIVE
1271 updates
Trump tariffs live updates: Trump says US, China framework ‘signed’ as Bessent targets Labor Day for key deals
The US and China agree to a framework for a full tariff and trade deal. The deal is a significant step in stabilizing trade relations between the two countries. China has confirmed it will deliver rare earths to the US as part of the trade framework. Treasury Secretary Scott Bessent said the US could complete the balance of its most important trade talks by Labor Day. The EU has also come into focus in recent days, with the EU vowing to retaliate if the US sticks with its baseline 10% tariffs.
“We just signed with China yesterday,” Trump said during an unrelated event at the White House, though he did not provide further details. China said “both sides have confirmed further details on the framework.”
The pact marks a significant step in stabilizing trade relations between the two countries, which lapsed into feuding soon after an initial truce in May. China has confirmed it will deliver rare earths to the US as part of the trade framework, and the US will respond by taking down its countermeasures, Commerce Secretary Howard Lutnick told Bloomberg.
Lutnick claimed that trade agreements with 10 key US trading partners are imminent, as countries from Canada to Japan struggle to get over the finish line with just two weeks to go. Treasury Secretary Scott Bessent on Friday said the US could complete the balance of its most important trade talks by Labor Day.
“I think we could have trade wrapped up by Labor Day,” Bessent said in a Fox Business interview.
The Trump administration has signaled a willingness to roll back the self-imposed tariff deadline of July 9 as pressure builds. Stephen Miran, chairman of the White House Council of Economic Advisers, said the tariff pause to be extended for countries negotiating “in good faith.”
“I mean, you don’t blow up a deal that’s that’s in process and making really good faith, sincere, authentic progress by dropping a tariff bomb in it,” Miran told Yahoo Finance.
Trump and officials have warned that he could soon simply hand countries their tariff rates, raising questions about the status of negotiations. Miran said that he doesn’t see the aggregate tariff rate falling materially below the 10% level in the long run, but some countries may negotiate more favorable duties while others will see a return of the steeper “Liberation Day” tariffs.
So far, Trump has firmed up a trade deal with the United Kingdom. Trade talks with the European Union have also come into focus in recent days, with the EU vowing to retaliate if the US sticks with its baseline 10% tariffs. Trump has threatened tariffs of up to 50% on EU imports.
Read more: What Trump’s tariffs mean for the economy and your wallet
Here are the latest updates as the policy reverberates around the world.
LIVE
1271 updates
Trump tariffs live updates: Trump says US, China framework ‘signed’ as Bessent targets Labor Day for key deals
The US and China agree to a framework for a full tariff and trade deal. The deal is a significant step in stabilizing trade relations between the two countries. China has confirmed it will deliver rare earths to the US as part of the trade framework. Treasury Secretary Scott Bessent said the US could complete the balance of its most important trade talks by Labor Day. The EU has also come into focus in recent days, with the EU vowing to retaliate if the US sticks with its baseline 10% tariffs.
“We just signed with China yesterday,” Trump said during an unrelated event at the White House, though he did not provide further details. China said “both sides have confirmed further details on the framework.”
The pact marks a significant step in stabilizing trade relations between the two countries, which lapsed into feuding soon after an initial truce in May. China has confirmed it will deliver rare earths to the US as part of the trade framework, and the US will respond by taking down its countermeasures, Commerce Secretary Howard Lutnick told Bloomberg.
Lutnick claimed that trade agreements with 10 key US trading partners are imminent, as countries from Canada to Japan struggle to get over the finish line with just two weeks to go. Treasury Secretary Scott Bessent on Friday said the US could complete the balance of its most important trade talks by Labor Day.
“I think we could have trade wrapped up by Labor Day,” Bessent said in a Fox Business interview.
The Trump administration has signaled a willingness to roll back the self-imposed tariff deadline of July 9 as pressure builds. Stephen Miran, chairman of the White House Council of Economic Advisers, said the tariff pause to be extended for countries negotiating “in good faith.”
“I mean, you don’t blow up a deal that’s that’s in process and making really good faith, sincere, authentic progress by dropping a tariff bomb in it,” Miran told Yahoo Finance.
Trump and officials have warned that he could soon simply hand countries their tariff rates, raising questions about the status of negotiations. Miran said that he doesn’t see the aggregate tariff rate falling materially below the 10% level in the long run, but some countries may negotiate more favorable duties while others will see a return of the steeper “Liberation Day” tariffs.
So far, Trump has firmed up a trade deal with the United Kingdom. Trade talks with the European Union have also come into focus in recent days, with the EU vowing to retaliate if the US sticks with its baseline 10% tariffs. Trump has threatened tariffs of up to 50% on EU imports.
Read more: What Trump’s tariffs mean for the economy and your wallet
Here are the latest updates as the policy reverberates around the world.
LIVE
1271 updates
Trump tariffs live updates: Trump says US, China framework ‘signed’ as Bessent targets Labor Day for key deals
The US and China agree to a framework for a full tariff and trade deal. The deal is a significant step in stabilizing trade relations between the two countries. China has confirmed it will deliver rare earths to the US as part of the trade framework. Treasury Secretary Scott Bessent said the US could complete the balance of its most important trade talks by Labor Day. The EU has also come into focus in recent days, with the EU vowing to retaliate if the US sticks with its baseline 10% tariffs.
“We just signed with China yesterday,” Trump said during an unrelated event at the White House, though he did not provide further details. China said “both sides have confirmed further details on the framework.”
The pact marks a significant step in stabilizing trade relations between the two countries, which lapsed into feuding soon after an initial truce in May. China has confirmed it will deliver rare earths to the US as part of the trade framework, and the US will respond by taking down its countermeasures, Commerce Secretary Howard Lutnick told Bloomberg.
Lutnick claimed that trade agreements with 10 key US trading partners are imminent, as countries from Canada to Japan struggle to get over the finish line with just two weeks to go. Treasury Secretary Scott Bessent on Friday said the US could complete the balance of its most important trade talks by Labor Day.
“I think we could have trade wrapped up by Labor Day,” Bessent said in a Fox Business interview.
The Trump administration has signaled a willingness to roll back the self-imposed tariff deadline of July 9 as pressure builds. Stephen Miran, chairman of the White House Council of Economic Advisers, said the tariff pause to be extended for countries negotiating “in good faith.”
“I mean, you don’t blow up a deal that’s that’s in process and making really good faith, sincere, authentic progress by dropping a tariff bomb in it,” Miran told Yahoo Finance.
Trump and officials have warned that he could soon simply hand countries their tariff rates, raising questions about the status of negotiations. Miran said that he doesn’t see the aggregate tariff rate falling materially below the 10% level in the long run, but some countries may negotiate more favorable duties while others will see a return of the steeper “Liberation Day” tariffs.
So far, Trump has firmed up a trade deal with the United Kingdom. Trade talks with the European Union have also come into focus in recent days, with the EU vowing to retaliate if the US sticks with its baseline 10% tariffs. Trump has threatened tariffs of up to 50% on EU imports.
Read more: What Trump’s tariffs mean for the economy and your wallet
Here are the latest updates as the policy reverberates around the world.
LIVE
1271 updates
Trump tariffs live updates: Trump says US, China framework ‘signed’ as Bessent targets Labor Day for key deals
The US and China agree to a framework for a full tariff and trade deal. The deal is a significant step in stabilizing trade relations between the two countries. China has confirmed it will deliver rare earths to the US as part of the trade framework. Treasury Secretary Scott Bessent said the US could complete the balance of its most important trade talks by Labor Day. The EU has also come into focus in recent days, with the EU vowing to retaliate if the US sticks with its baseline 10% tariffs.
“We just signed with China yesterday,” Trump said during an unrelated event at the White House, though he did not provide further details. China said “both sides have confirmed further details on the framework.”
The pact marks a significant step in stabilizing trade relations between the two countries, which lapsed into feuding soon after an initial truce in May. China has confirmed it will deliver rare earths to the US as part of the trade framework, and the US will respond by taking down its countermeasures, Commerce Secretary Howard Lutnick told Bloomberg.
Lutnick claimed that trade agreements with 10 key US trading partners are imminent, as countries from Canada to Japan struggle to get over the finish line with just two weeks to go. Treasury Secretary Scott Bessent on Friday said the US could complete the balance of its most important trade talks by Labor Day.
“I think we could have trade wrapped up by Labor Day,” Bessent said in a Fox Business interview.
The Trump administration has signaled a willingness to roll back the self-imposed tariff deadline of July 9 as pressure builds. Stephen Miran, chairman of the White House Council of Economic Advisers, said the tariff pause to be extended for countries negotiating “in good faith.”
“I mean, you don’t blow up a deal that’s that’s in process and making really good faith, sincere, authentic progress by dropping a tariff bomb in it,” Miran told Yahoo Finance.
Trump and officials have warned that he could soon simply hand countries their tariff rates, raising questions about the status of negotiations. Miran said that he doesn’t see the aggregate tariff rate falling materially below the 10% level in the long run, but some countries may negotiate more favorable duties while others will see a return of the steeper “Liberation Day” tariffs.
So far, Trump has firmed up a trade deal with the United Kingdom. Trade talks with the European Union have also come into focus in recent days, with the EU vowing to retaliate if the US sticks with its baseline 10% tariffs. Trump has threatened tariffs of up to 50% on EU imports.
Read more: What Trump’s tariffs mean for the economy and your wallet
Here are the latest updates as the policy reverberates around the world.
LIVE
1271 updates