Scott Bessent, the U.S. Treasury Secretary, indicated the Trump administration’s willingness to extend the current 90-day tariff pause beyond its scheduled end date of July 9, 2025. The House Ways and Means Committee hearing on June 11, 2025, in the Rayburn House Office Building in Washington, D.C. This hearing was not just about hearing testimony. The committee announced some great news.
On April 9, the Trump administration announced a 90-day halt on reciprocal tariffs. This pause is intended to allow for good faith negotiations with the United States’ largest trading partners. Bessent focused on how the administration is working hard to negotiate enforcement agreements with 18 of our biggest trading partners. He emphasized the need for good faith in these conversations.
Bessent emphasized the likelihood of extending the tariff pause, noting that it is “highly likely” the United States would “roll the date forward to continue good faith negotiations.” This statement underscores the administration’s commitment to reaching favorable trade agreements while maintaining a cooperative stance with countries that are negotiating earnestly.
One of the trading blocs that is presently talking with the Trump administration is the European Union. Bessent added that officials are close to the finalization of trade deals with about half a dozen countries. This historic joint effort is intended to solidify international trade relations.
On Wednesday, the terms of a separate U.S.-China trade deal were announced, though the complete details of that agreement are still not clear. The announcement could hardly have come at a better time. Adding to the urgency are ongoing negotiations for tariffs and trade terms with multiple countries, as the current tariff pause is set to expire soon.
Bessent outlined a firm stance regarding negotiations, stating, “If someone is not negotiating, then we will not,” emphasizing that the administration will only extend the tariff pause for countries demonstrating a genuine commitment to reaching an agreement.
As July 9th approaches stakeholders on all sides of the issue will be watching developments closely as an extension of the tariff pause could foreshadow what comes next. The results of these negotiations may set important precedents for the future direction of international trade and economic relations.