The US President Donald Trumpʼs team is aiming to sign 90 trade deals during a 90-day tariff pause. Experts predict that the plan will fail.
Reuters reports this.
The EU Trade Commissioner Maroš Šefčovič will arrive in the United States on April 14 for talks on the tariffs reported on April 2. At the same time, Trump’s chief tariff negotiator, Treasury Secretary Scott Bessent, will be in Buenos Aires, Argentina. Experts doubt the administration will be able to manage so many parallel negotiations.
"So weʼll do 90 deals in 90 days. Itʼs possible. Ultimately, Trump, the boss, will be the chief negotiator. Nothing gets signed without his careful review," White House trade adviser Peter Navarro said on Fox Business.
The Trump team is under pressure from instability, which is why officials are eager to achieve success as quickly as possible, according to former chief negotiator for the Office of the US Trade Representative Wendy Cutler.
"They have a responsibility to prove that they can quickly conclude agreements with countries to restore the trust of markets and partners and show that there is a way out of this situation. Achieving agreements that would suit both Trump and the financial markets is a gigantic task. There is no chance of concluding a comprehensive agreement with even one country in this time," she says.
During Trumpʼs first term, the auto and steel terms of the Washington-Seoul free trade agreement were renegotiated for more than eight months. The larger deal, covering the United States, Mexico and Canada, took more than two years.
- In early April, the US President Donald Trump reported that he would impose tariffs on goods from other countries. The new tariffs will apply to more than 180 countries and territories (not including Russia, North Korea, Cuba and Belarus, which are already under sanctions). A 10% tariff was imposed on Ukraine.
- On April 9, Trump raised tariffs on China to 125% and imposed a 90-day tariff pause with reduced tariffs of 10% for other countries. Later, on April 11, China raised tariffs on goods from the United States to 125%.
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