U.S. pushes countries for best offers by Wednesday as tariff deadline looms

The Trump administration is urging countries engaged in trade talks with the United States to submit their best offers by Wednesday, as officials aim to accelerate negotiations ahead of a self-imposed deadline just five weeks away, according to a draft letter obtained by Reuters.

The draft letter, from the Office of the United States Trade Representative (USTR), offers insight into President Donald Trump’s strategy for concluding the complex negotiations that began on April 9. That was when he paused his controversial "Liberation Day" tariffs for 90 days—until July 8—following sharp reactions from global stock, bond, and currency markets to the sweeping nature of the levies.

The document signals a sense of urgency within the administration to wrap up talks within its tight timeline. Despite repeated assurances from officials such as White House economic adviser Kevin Hassett that several agreements were nearing completion, the U.S. has thus far finalized only one major trade deal—with Britain. Even that agreement is widely seen as a framework for ongoing dialogue rather than a definitive accord.

According to the draft, the U.S. is asking negotiating countries to provide their best proposals in several key areas. These include tariff and quota offers for U.S. industrial and agricultural products, measures to address non-tariff barriers, commitments on digital trade and economic security and, country-specific commitments.

The U.S. plans to evaluate these responses within days and may propose a "possible landing zone," including a reciprocal tariff rate, the letter states.

While it remains unclear which countries will receive the letter, it is directed at those with active negotiations, including recent meetings and document exchanges. Washington is currently in talks with the European Union, Japan, Vietnam, India, and others.

A USTR spokesperson confirmed that trade negotiations are ongoing.

“Productive negotiations with many key trading partners continue at a rapid pace. It is in all parties’ interest to take stock of progress and assess any next steps,” the official said.

Tiffany Smith, vice president of global trade policy at the National Foreign Trade Council, welcomed the administration’s push.

“We are encouraged that USTR is moving negotiations ahead as quickly as they can,” Smith told Reuters. “Trade deals that remove barriers for U.S. companies abroad and lower U.S. tariffs would be a win-win—if they are done in a way that returns predictability and stability to trade relationships.”

Trump's aggressive and often unpredictable tariff policies have been central to his “America First” economic agenda. His goals include reshaping U.S. trade ties, reducing trade deficits, and shielding American industries from foreign competition. Republican lawmakers are also banking on tariff revenue to help offset the cost of tax cuts making their way through Congress.

These policies have sent investors on a rollercoaster ride. In May, U.S. stocks posted their strongest monthly rally since November 2023, rebounding from steep losses caused by a flurry of tariff announcements in February, March, and early April.

On Monday, markets remained largely flat after Trump unexpectedly announced a doubling of tariffs on steel and aluminum imports during a visit to Pittsburgh last Friday.

The legality of Trump’s broad use of tariffs has come under judicial scrutiny. Last Wednesday, the U.S. Court of International Trade ruled that he exceeded his authority by implementing certain tariffs under the International Emergency Economic Powers Act (IEEPA). These included the "Liberation Day" levies and earlier tariffs on imports from Canada, Mexico, and China, which were linked to accusations that those countries facilitated the flow of fentanyl into the United States.

Less than a day later, an appeals court temporarily stayed the decision, allowing the tariffs to remain in effect as the legal battle unfolds.

The draft letter warns trading partners not to assume that the tariffs will be lifted even if the courts ultimately rule against Trump’s use of the IEEPA.

“Regardless of ongoing litigation concerning the President’s reciprocal tariff action in U.S. courts, the President intends to continue this tariff program pursuant to other robust legal authorities if necessary. It is important that we continue our discussions on these matters,” the letter says.

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