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Trump Faces July 9 Tariff Deadline With Only Three Trade Pacts in Hand

Treasury Secretary Scott Bessent says partners still negotiating in good faith, including India, may gain extra time before reciprocal levies begin.

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FILE PHOTO: A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 27, 2025.
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Overview

  • With the 90-day pause set to expire on July 9, reciprocal tariffs announced in April could snap back into effect, imposing double-digit levies on dozens of trading partners.
  • Only three agreements have been secured so far: a limited deal with the United Kingdom, a trade framework with China and a pact with Vietnam that sets 20% tariffs on imports, 40% on transshipped goods and zero duties on U.S. exports.
  • Vietnam’s deal, announced July 2, grants U.S. products tariff-free access to Vietnamese markets in exchange for the new levy structure aimed at curbing transshipment.
  • Indian exporters are racing to avert a planned 26% reciprocal tariff, with negotiators expressing cautious optimism about a last-minute interim accord.
  • Negotiations with Japan and the European Union remain stuck over market-opening demands in autos and agriculture, prompting U.S. officials to warn they will notify holdouts of their tariff rates by letter if talks stall.