BlockBeats news, on June 12, U.S. Treasury Secretary Besent stated on Wednesday that the Trump administration is willing to extend the current 90-day tariff suspension period beyond July 9, provided that the U.S.'s major trading partners demonstrate "good faith" during the ongoing negotiations. Speaking at a hearing before the House Ways and Means Committee in Washington, Besent mentioned that the U.S. has 18 "important trading partners" and that the Trump administration is working to reach agreements with these countries. For those countries and trade groups (such as the European Union) that are "negotiating in good faith," it is "very likely" that the U.S. will "extend the deadline to continue sincere negotiations. If someone is unwilling to negotiate, then we will not negotiate."
Officials from the Trump administration have not yet formally stated whether they are willing to extend the tariff suspension if "terms of agreement" are not reached before its expiration. Besent's remarks suggest that as the deadline approaches, the Trump administration may be more inclined to adjust the deadlines it has previously set. (Jin10)
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