U.S. Trade Talks Surge with New Export Revisions

U.S. Treasury Secretary Scott Bessent indicated significant progress in trade talks with 18 primary U.S. trading partners, aiming for agreements by Labor Day. New revisions to the U.S.-China export deal were particularly highlighted, targeting faster shipments of rare earth materials from China to the United States.

The Trump administration's trade negotiations have intensified following a week dominated by geopolitical tensions with Iran and deliberations on a large tax and spending bill in Congress. A fresh proposal has been sent to the European Union, while India dispatched a delegation to Washington for further discussions.

President Trump remains flexible on tariff deadlines, emphasizing the importance of avoiding last-minute charges. Meanwhile, revisions to the agreement with China are underway, addressing export limitations of critical minerals, as the world's largest economies strive to end their trade war.

(With inputs from agencies.)