U.S. Deputy Treasury Secretary Wally Adeyemo said in a July 2 interview on CNBC that trade talks with Japan are "making progress" and he hopes to announce updates soon. He noted that non-tariff barriers—rules and regulations that limit trade—are a key focus in lowering tariffs.
This comes as President Trump increases pressure on Japan, saying he may raise tariffs to 30% or 35% unless the U.S. gets better trade terms. He said letters with new tariff rates will be sent to various countries soon.
Adeyemo added that by the July 9 deadline—when a pause on extra tariffs expires—the U.S. plans to announce several new agreements. But for countries where talks are stalling, new tariffs could be revealed next week. He didn’t name specific countries.
He also suggested that if countries, like Japan, agree to open markets in industries such as manufacturing and agriculture—where American companies have struggled to enter—it could lead to lower tariffs.
by MagazineKey4532