Bessent Predicts Trump’s Trade Initiatives May Conclude by Early September

Treasury Secretary Scott Bessent recently indicated that the Trump administration is optimistic about finalizing trade agreements by Labor Day, suggesting that some discussions might stretch beyond the approaching July deadline for increased reciprocal tariffs. As reported by Fox Business on June 27, Bessent mentioned that several countries are presenting attractive deals.

Bessent emphasized the significance of engaging with a total of 18 key trading partners and noted progress with both the U.K. and China, stating those negotiations are currently settled. “If we can finalize agreements with around ten or twelve out of these eighteen,” he added, “and considering there are another twenty critically important relationships to explore, we could potentially wrap up trade discussions by Labor Day,” which falls on September 1 this year.

The backdrop to these talks includes President Trump’s temporary halt on reciprocal tariffs announced earlier in April; this pause is set to expire on July 9. Commerce Secretary Howard Lutnick shared insights on Bloomberg Television regarding Trump’s readiness to finalize significant trade deals within this timeframe.

“We’re focusing on our top ten deals first,” Lutnick explained during his interview. “Once those are categorized correctly, other nations will follow suit.” Initially, Trump’s team had ambitious plans for simultaneous negotiations aimed at reducing trade deficits and enhancing American manufacturing capabilities.

“We might have as many as ninety potential deals lined up over ninety days,” White House trade adviser Peter Navarro stated back in April during an NBC interview. “The pause was a strategic move for President Trump; we’re committed to delivering results for Americans.”

However, progress has been slower than anticipated due to some countries holding firm in their positions while Trump has hinted at imposing tariffs unilaterally if negotiations do not meet his expectations.

The scope and depth of these impending trade agreements remain uncertain in this very way pacts frequently enough require extensive negotiation periods—sometimes spanning years.For instance, while the agreement with the U.K.,which Trump promotes as complete,still leaves several critical issues unresolved; similarly complex questions linger regarding fentanyl trafficking and access for U.S exporters within Chinese markets.

A recent publication by The Economic Times highlighted india as a potential candidate nearing a deal completion stage; Indian officials were scheduled to meet their American counterparts shortly after June 24th.