President Donald Trump announced on Tuesday on Truth Social that the U.S. will release trade agreements with “a minimum of 7 Countries” Wednesday morning, with additional countries following in the afternoon.
What Happened: “We will be releasing a minimum of 7 Countries having to do with trade, tomorrow morning, with an additional number of Countries being released in the afternoon,” Trump wrote on his platform. “Thank you for your attention to this matter!”
The announcement comes as Trump intensifies bilateral trade pressure through comprehensive tariff restructuring. Commerce Secretary Howard Lutnick confirmed plans to finalize deals with ten major trading partners by July 9, as previously reported.
Only the United Kingdom has secured preferential treatment, with auto tariffs reduced from 27.5% to 10% and aerospace duties eliminated, benefiting companies like Rolls-Royce Holdings.
Why It Matters: The shift in strategy from multilateral negotiations to bilateral letters reflects Trump’s preference for direct, country-to-country deals. On Sunday, Trump threatened an additional 10% tariff on any country aligning with BRICS anti-American policies, targeting the ten-nation alliance, including China, Russia, India, and Brazil.
Meanwhile, Treasury Secretary Scott Bessent announced plans to meet with his Chinese counterpart “sometime in the next couple of weeks” to advance trade discussions between the world’s two largest economies, according to a CNBC interview Monday.
Japan faces 25% tariff rates with negotiations extended until August 1 due to domestic political constraints from the country’s July 20 upper house election. Prime Minister Shigeru Ishiba told NHK Japan won’t “make easy compromises” on automobile tariffs.
Economists have criticized Trump’s approach, with Peter Schiff calling the tariff strategy “a complete lack of understanding of trade,” noting Japan’s average tariffs on U.S. goods are under 2% and South Korea’s under 1%.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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