US Trade Talks with 18 Partners Expected to Wrap by Labor Day

U.S. Treasury Secretary Scott Bessent announced that the Trump administration expects to finalize its trade agreements with several key countries by the Labor Day holiday on September 1. The administration is negotiating with 18 important trading partners and aims to secure deals with 10 to 12 of them, including recent agreements with the United Kingdom and accommodations with China. These negotiations relate to the administration's reciprocal tariffs policy, which was announced in April and temporarily paused until July 8 to allow for deal-making. South Korea, Japan, and other countries have been actively engaged in talks to resolve tariff and non-tariff barrier issues before the tariff suspension ends. White House officials have indicated that the pause on tariffs could be extended if necessary to facilitate these agreements. Bessent emphasized that trading partners are approaching the U.S. with "very good" deals, suggesting optimism about reaching favorable outcomes for American trade interests.