Trump Administration Prioritizes Quality Over Timing in Trade Agreements

The Trump administration is prioritizing the quality of trade agreements over the urgency of meeting impending deadlines, U.S. Treasury Secretary Scott Bessent revealed on Monday. A crucial deadline of August 1 looms, threatening steep tariffs if deals aren't secured. However, Bessent emphasized that rushing deals is not the administration's priority.

In a CNBC interview, Bessent addressed the possibility of extending deadlines for ongoing productive negotiations with Washington, stating that President Trump would make the final call. He suggested that higher tariffs might pressure countries to reach better agreements. Meanwhile, talks with China could begin shortly.

Bessent also highlighted the role of European collaboration if the U.S. implements secondary tariffs on Russia. On Japan, the focus remains on obtaining the best deal for Americans rather than its internal politics. The administration's approach underscores a strategic, rather than rushed, navigation of international trade talks.

(With inputs from agencies.)