U.S. President Donald Trump said on Wednesday he might extend a July 8 deadline for trade talks, but added he did not think it would be necessary.
The deadline marks the end of a 90-day pause in broad U.S. tariffs announced in April.
Trump said the U.S. is in talks with about 15 countries, including South Korea, Japan, and the European Union. He said letters would soon be sent to other countries laying out trade terms, which they could accept or reject.
“At a certain point, we’re just going to send letters out saying, ‘This is the deal. You can take it, or you can leave it,’” Trump said. “We’re not quite ready.”
U.S. Treasury Secretary Scott Bessent told lawmakers that the administration may allow more time for countries that are negotiating in good faith. He said the European Union had shown more willingness to negotiate than before.
Bessent’s comments were the first public sign from the administration that the deadline could be flexible. He repeated the position in a second hearing later on Wednesday, saying countries with active negotiations could see the date “rolled forward.”
Trump said talks were progressing and added, “They do want to negotiate.”
A separate deal with China, agreed Tuesday in London, follows a different timeline. That agreement has an August 10 deadline.
The April 9 tariff pause came after steep market losses triggered by the announcement of new tariffs targeting nearly all U.S. trade partners. The S&P 500 Index dropped more than 12% in four days, bond yields rose sharply, and the dollar fell.
Markets began recovering after Trump announced the pause. Recovery continued in May when the administration eased tariffs on Chinese goods.
Bessent said the U.S. continues to work on deals with 18 key trading partners.
