The administration of US President Donald Trump wants to conclude 90 trade agreements in 90 days - the introduction of duties on more than 75 countries has been postponed for this period. This is reported by Reuters, reports UNN.
The administration of President Donald Trump wants to conclude 90 trade agreements in 90 days, but the challenges for a quick resolution of the president's trade war are already obvious
It is reported that the head of the trade mission of the European Union, Maroš Šefčovič, will be one of the first officials to arrive in Washington on Monday for urgent negotiations regarding the sharp duties announced by Trump on April 2.
The European Union is one of the largest trading partners of the United States, with a volume of bilateral trade of almost 1 trillion dollars last year.
But when Šefčovič arrives, Trump's chief negotiator on duties, Treasury Secretary Scott Bessent, will be in Buenos Aires to show support for Argentina's economic reforms, not in Washington, although Argentina accounts for only $16.3 billion of total annual trade with the United States. Bessent's absence on Monday underscores doubts among trade experts about how effectively the administration can manage so many simultaneous negotiations, as well as about the overall prospects for reaching 90 deals in 90 days
This week, Trump began a 90-day countdown when he suspended the introduction of his higher duties for many countries after financial markets went into a tailspin due to fears of recession and inflation, among other factors. He said that the 90-day pause will allow countries to conclude bilateral agreements with the United States.
Let us remind
Large technology companies have become closer to US President Donald Trump, but have not received much in return, finding themselves vulnerable to the impact of his trade war.
The latest decree of US President Donald Trump increased duties from 84% to 125% for China, but this happened in addition to the 20% duty on fentanyl, which was imposed earlier, so the duty rate is actually 145%.
Donald Trump explained that the suspension of customs tariffs for 90 days was adopted without consultation with lawyers, "from the bottom of my heart". He also added that he was watching the bond market.
