High Stakes Hustle: Trump's Deadline Pressures Global Trade Negotiations

With a crucial deadline fast approaching, negotiators from major U.S. trading partners are in a race against time to finalize trade agreements and avoid a spike in import tariffs. President Donald Trump's administration has ramped up pressure to conclude talks by July 9, with only a limited deal with Britain completed so far.

In Europe, EU Trade Commissioner Maros Sefcovic will visit Washington, although negotiations remain clouded. While the EU is open to a universal 10% tariff deal, challenges persist over automobile, steel, and technology sector tariffs. Elsewhere, Japan faces accusations of 'unfair' trade practices, while India-U.S. dialogues have stalled over tariffs on steel and agricultural products.

Other nations such as Indonesia and South Korea attempt to navigate the complexities of their bilateral negotiations as they edge closer to the deadline. Though Britain has advanced in reducing tariffs on U.S. goods, China and the U.S. still grapple with broader deal terms, causing worldwide supply chain disruptions after stopping rare earth exports.

(With inputs from agencies.)