Key Facts
• U.S. Treasury Secretary Scott Bessent addressed tariff deadline extension in a CNBC interview.
• July 9 marks the expiration of a temporary suspension of additional tariffs.
• President Trump will decide on extending trade negotiations beyond this date.
• Current 10% tariffs, imposed on April 9, apply to EU, Japan, and other partners.
• Higher tariffs announced earlier in April remain temporarily suspended.
• Bessent emphasized the president’s role in assessing trade partners’ negotiation sincerity.
• He stated he would not publicly commit to a 10% extension at this stage.
Summary
U.S. Treasury Secretary Scott Bessent confirmed that the decision to extend trade negotiations beyond the July 9 tariff deadline rests with President Trump. In an interview with CNBC, Bessent highlighted the president’s authority in evaluating the sincerity of trade partners, such as the EU and Japan, during the ongoing 90-day negotiation period. The current 10% tariffs, implemented on April 9, remain in effect, while higher tariffs announced earlier are temporarily suspended. Bessent refrained from committing to any extension, emphasizing the importance of achieving negotiation goals.
