The Trump administration is asking countries seeking tariff relief to submit their trade talks proposals by Wednesday, according to a draft letter to negotiating partners seen by Reuters.
The draft document from the US Trade Representative’s office shows Donald Trump’s plans to wrap up talks with dozens of countries, which began on April 9 when he suspended his own tariffs for 90 days, by July 8, after stock, currency and bond markets plunged after he announced tariffs on virtually every country in the world.
The draft document asks countries to list their proposals in a number of key areas, including tariffs and quotas on the purchase of American industrial and agricultural products, as well as plans to eliminate any existing non-tariff barriers. Other items requested include commitments on digital trade and economic security, along with country-specific commitments.
The US will assess the responses within a few days and propose a “possible landing zone,” which could include a reciprocal tariff rate. Active negotiations are known to be underway with the European Union, Japan, Vietnam and India, among others.
Meanwhile, last Wednesday, the Court of International Trade ruled that Trump had overstepped his authority with tariffs developed under the International Emergency Economic Powers Act. The White House immediately appealed the ruling. As noted in a draft letter to trading partners, they should not believe that the tariffs will be lifted if the court makes a final ruling against Trump’s use of the law.
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