Trump’s administration is shifting away from pursuing large-scale trade agreements with multiple countries, according to a Financial Times report published Tuesday. Instead, the focus is now on quickly securing smaller, short-term deals ahead of a looming July 9 deadline—when the president intends to reinstate his most aggressive tariffs.
These limited agreements would allow participating countries to temporarily sidestep the harshest tariffs, though existing duties would still apply while negotiations continue. Talks remain active, and Trump continues to dangle the threat of fresh tariffs on major industries including automobiles, steel, and aluminum.
With the self-imposed July 9 expiration date on the pause of Trump’s sweeping April tariff package approaching, urgency is growing. However, signals from the administration have been inconsistent about how firm that deadline is. Trump said on Sunday he doesn’t believe he’ll need to delay the reimplementation of tariffs, while Treasury Secretary Scott Bessent warned Monday that nations refusing to cooperate would soon face steep “Liberation Day” tariffs.
Indicating he may not wait for provisional deals to be finalized, Trump announced on Truth Social Monday that he would be sending Japan a letter outlining a new tariff rate, blaming Tokyo’s resistance to importing U.S. rice.
Meanwhile, the European Union is reportedly open to accepting a flat 10% tariff on many of its exports, but is pushing for carve-outs on pharmaceuticals, alcohol, semiconductors, and commercial aircraft, according to Bloomberg. The EU is also requesting quotas and special terms to ease tariff burdens on cars, steel, and aluminum.
In North America, Canada backed down from implementing a digital services tax on U.S. tech giants—including Apple, Amazon, and Alphabet—late Sunday night, just hours before it was scheduled to take effect. The White House confirmed that trade talks between the U.S. and Canada have resumed following Trump’s threat to break off discussions entirely.
