On July 2, U.S. Deputy Treasury Secretary Forkender told CNBC that the U.S. may announce new tariffs next week on countries where trade talks haven't progressed. He said several deals would be announced before the July 9 deadline, which is when the pause on extra "reciprocal tariffs" ends.
He mentioned that talks with Japan have been held several times and are "moving forward," but didn’t confirm if Japan is among the countries making progress.
On July 1, President Trump expressed doubts about reaching a deal with Japan and suggested tariffs of 30% or 35% on Japanese imports could be imposed. He also signaled he’s not open to extending the July 9 deadline and may unilaterally announce new tariff rates.
According to the Wall Street Journal, U.S. officials told Japan during talks in May that if no agreement is reached soon, the U.S. might cap the number of cars Japan can export. Japan has said it won’t agree to a deal if U.S. tariffs on its cars continue, leaving negotiations stuck.
by MagazineKey4532