U.S. Treasury Secretary Scott Bessent said Monday that several major U.S. trading partners had made strong proposals to avoid tariffs, and India is likely to be among the first countries to sign a trade agreement.
Speaking to CNBC, Bessent noted significant progress in talks with India, Japan, and other Asian partners. He highlighted that Vice President Vance’s recent trip to India showed promising developments and that negotiations with South Korea and Japan were also going well.
Bessent suggested that the first trade deal could be finalized within a week or two.
He also mentioned that China's move to exempt certain U.S. goods from retaliatory tariffs signaled an interest in easing tensions, and emphasized that the U.S. had responded by not escalating further.
Speaking to Fox News, Bessent said President Donald Trump would be heavily involved in crafting individual trade deals with 15 to 18 key partners, stressing the urgency of reaching agreements soon.
On China, Bessent hinted that future negotiations depended largely on Beijing, noting the trade imbalance between the two countries and suggesting that China might eventually initiate talks.
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India has notified the WTO of plans to impose retaliatory tariffs on U.S. goods in response to higher U.S. import duties on Indian automobile products, with a 90-day tariff pause set to expire on July 9.
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A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
French member of parliament Olivier Marleix was found dead at his home on Monday, with suicide being considered a possible cause.
European wine and dairy producers are facing growing uncertainty as new U.S. tariffs threaten to disrupt exports to one of their most lucrative markets.
The two-day Ukraine Recovery Conference wrapped up in Rome on Friday, but the vision of rebuilding the war-torn country remains largely theoretical amid the absence of a ceasefire.
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Norway could soon receive a major boost to its airborne defence, as Washington signals readiness to expand military cooperation through a new high-value arms deal.
A British man accused of running a $100 million fake wine loan scam pleaded not guilty in New York, denying claims that he sold investors a vintage collection that didn’t exist. The high-stakes fraud allegedly duped victims with promises of rare bottles and big returns.
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