Trump Secures Two Trade Deals During Tariff Pause, Experts Cite China's Influence
US President Donald Trump managed to finalize two trade deals within the 90-day tariff pause period, delaying the implementation of new levies. The deals with Vietnam and the United Kingdom are seen as efforts to counter China's influence. Experts suggest that Trump's initial aggressive approach may have backfired, leading to a shift in strategy. The trade deals aim to protect certain US industries and address trans-shipment issues.
US President Donald Trump wanted 90 deals done in 90 days before his signature 'Liberation Day' tariff policy was enforced. But the Trump administration managed to secure just two in that time. Only one has been published, and he has pushed back the introduction of new levies by three weeks. The new levies were due to come into effect on July 9 at midnight in the US (2pm AEST).
Mr Trump heralded the trade deals with Vietnam and the United Kingdom as significant for the United States but pushed back the implementation of higher tariffs until August 1. Experts say the lack of progress shows his initial plan 'backfired' because he went 'too hard, too soon'. Other analysts say the deals done so far show that the US is interested in countering China's influence.
On Monday, Mr Trump revealed revised figures for the tariffs that 14 countries would face from next month if deals were not made, flagging that more countries would receive revised offers amid talks that several deals were close to being finalized.
According to the source: Australian Broadcasting Corporation.
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