U.S. Treasury Secretary Bensont hints at extending tariff suspension

Odaily Planet Daily News - U.S. Treasury Secretary Bessant said on Wednesday that the Trump administration is willing to extend the current 90-day tariff suspension beyond July 9 as long as the United States' major trading partners show "sincerity" in the current negotiations. Bessant said at a hearing held by the House Ways and Means Committee in Washington that the United States has 18 "important trading partners" with whom the Trump administration is working to reach an agreement. For those countries and trade groups (such as the European Union) that are "negotiating in good faith," it is "very likely" that the United States will "extend the deadline to continue good faith negotiations." He also said, "If someone doesn't negotiate, then we won't negotiate." Trump administration officials have not yet indicated that they are willing to extend the tariff suspension if "agreement terms" are not reached before the tariff suspension expires. Bessant's speech suggests that as the deadline approaches, the Trump administration may be more inclined to change the deadline it set.