Trump’s Trade Deal Count Lags As Deadline Approaches/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ President Trump’s sweeping “Liberation Day” tariffs spurred global talks, but only a handful of trade deals have materialized before the July 9 deadline. The U.S. has formal agreements with just the U.K. and Vietnam, plus a tentative framework with China. Uncertainty looms as countries brace for possible steep tariffs starting August 1.
Quick Look
- Only a few trade deals announced since April
- Trump warns Japan, South Korea of 25% tariffs
- Businesses fear economic disruptions as tariff deadline nears
Trump’s Trade Deals Sparse as Tariff Deadline Nears
Deep Look
NEW YORK (AP) — Over three months after President Donald Trump unveiled sweeping “Liberation Day” tariffs on imports from nearly every country, the ambitious plan to forge 90 trade deals in 90 days has yielded only a handful of agreements—and few concrete details.
Trump’s April announcement, delivered with dramatic charts in the White House Rose Garden, initially sent shockwaves through global markets. But within hours, the bulk of the new tariffs were suspended for 90 days to avoid economic turmoil and give room for negotiations.
Now, with the July 9 deadline just days away, only deals with the United Kingdom and Vietnam have been formally announced, alongside a tentative “framework” agreement with China. Even those agreements remain thin on specifics, with critical questions unanswered about timing, tariff rates, and implementation.
Tariffs Loom Large
Despite the pause, most countries have faced a baseline 10% tariff on goods entering the U.S. in recent months, in addition to steep taxes targeting steel, aluminum, and auto imports. Trump’s proposed “reciprocal” tariffs—which could soar as high as 70%—have been held in reserve for dozens of nations if negotiations falter.
Over the July Fourth holiday weekend, Trump announced that letters warning of looming tariffs would go out to several nations. On Monday, he posted letters on Truth Social addressed to the leaders of Japan and South Korea, confirming 25% tariffs on goods from both countries starting August 1.
“If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 25% that we charge,” Trump warned in the letter to Japan’s Prime Minister Shigeru Ishiba—a message echoed in his letter to South Korea’s President Lee Jae-myung.
Vietnam Deal
On July 2, Trump declared a trade deal with Vietnam allowing U.S. goods duty-free entry. Vietnamese exports to the U.S., meanwhile, would face a 20% tariff—a reduction from the 46% rate initially proposed in April. However, Trump also announced a 40% tariff on transshipping, targeting goods routed through Vietnam to bypass U.S. tariffs on other countries, particularly China.
Implementation details and whether these tariffs would layer atop existing duties remain unclear. Vietnam has faced the 10% baseline tariff for the past three months.
United Kingdom Deal
On May 8, Trump unveiled a deal with the United Kingdom that cut tariffs on British autos, steel, and aluminum, while the U.K. agreed to reduce levies on American products such as olive oil, wine, and sports gear.
Initially hailed with great fanfare, the deal’s specifics were slow to emerge. The U.K. was promised an exemption from Trump’s sweeping 25% duties on foreign steel and aluminum. However, when Trump doubled global steel and aluminum tariffs to 50% in early June, British metals still faced a 25% tax—the only country spared from the full 50% hike.
The U.K. continues to pay the 10% baseline tariff imposed in April.
Tentative China Framework
At the height of tensions earlier this year, Trump’s tariffs on Chinese goods soared to 145%, with China retaliating at rates up to 125%. On May 12, both countries agreed to a 90-day truce, slashing tariffs to 30% and 10%, respectively.
On June 11, following talks in London, Trump announced a tentative “framework” deal. The U.S. Treasury later revealed that China would ease restrictions on American firms seeking access to critical minerals like rare earths. Meanwhile, China promised to review export applications for controlled items and welcomed resumed U.S. exports of airplane parts, ethane, and other products.
The Chinese Commerce Ministry has been vague on timing, and significant uncertainties remain about how—and when—the deal will take effect. Trump has said the U.S. will halt efforts to revoke visas for Chinese students studying at American universities as part of the understanding.
Outlook Uncertain
As the July 9 deadline approaches, it’s unclear how many countries will reach deals—or face stiff new tariffs come August. Trump has signaled he’s open to extending talks, but businesses and financial markets remain jittery.
Analysts say the outcome hinges on whether major trading partners agree to concessions and how aggressively Trump decides to enforce his tariff threats. For now, details on many of the promised deals remain elusive, leaving global trade relations in limbo.
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