Global Trade Tensions: Countdown to Crucial Deals

The United States, poised for critical trade negotiations, will announce several deals in the next 48 hours, according to Treasury Secretary Scott Bessent. Amidst a global trade war ignited by President Trump, this period is marked by last-minute offers from countries seeking to secure tariff agreements before the impending July 9 deadline.

As the deadline looms, financial markets remain unsteady, and policymakers are in a fray to protect their economies. Bessent, however, remains tight-lipped about the specifics of potential deals, while countries keenly await the U.S.'s decision to avert heightened tariffs.

Meanwhile, the European Union races against time to craft a trade pact following a 'good exchange' between EU Commission President Ursula von der Leyen and President Trump. Despite the frenetic pace of negotiations, the EU struggles to balance speedy resolutions with leveraging its economic influence for a favorable outcome.

(With inputs from agencies.)