The Voice News: The Trump administration is close to finalizing multiple trade deals before the end of a 90-day tariff pause, according to Deputy Treasury Secretary Michael Faulkender.
Speaking on CNBC’s Squawk Box Monday, Faulkender said the administration is making “very good progress” and is “close to the finish line on a couple” of agreements. He emphasized the goal of securing at least preliminary terms before the July 9 deadline, when Trump’s tariff freeze is set to expire.
“We want to reach at least terms of an agreement before the expiration of that pause,” Faulkender stated, suggesting more deals could be announced soon.
President Trump initially paused tariffs on most U.S. trade partners in early April, aiming for “90 deals in 90 days.” So far, only a deal with the UK has been finalized.
Faulkender added that negotiations remain complex but active, and that progress depends on continued goodwill from trade partners.
Meanwhile, U.S. stock markets opened lower Monday, amid renewed concerns over U.S.-China trade tensions. Though talks in Switzerland last month hinted at a truce, relations deteriorated after the Trump administration accused China of violating a preliminary agreement by delaying critical mineral exports.
China has since pushed back, claiming the U.S. broke the Geneva trade pact by imposing new visa restrictions on Chinese students.
Top White House officials, including National Economic Council Director Kevin Hassett, suggest that a direct conversation between Trump and Chinese President Xi Jinping could occur as soon as this week.
Despite growing tension, Faulkender reaffirmed the administration’s intent to finalize as many deals as possible before the 90-day window closes.
“We’re working to bring resolution to the American people and to markets as quickly as possible,” he said.
