U.S. Targets October Deadline for Final Trade Deals

The U.S. aims to wrap up trade negotiations with remaining countries by late October, Treasury Secretary Scott Bessent told Nikkei Asia last week, following President Donald Trump’s sweeping new tariff rollout. Key partners—including Canada, Mexico, and Switzerland—are pushing for improved terms. In July, Washington finalized a landmark deal with the EU, introducing a uniform 15% tariff on most imports in exchange for $600 billion in U.S. investments and $750 billion in energy purchases. A separate agreement with Japan followed, reducing tariffs on autos and industrial goods to 15% while securing $550 billion in Japanese investments. Additional accords were reached with Indonesia, Malaysia, and the Philippines, each setting a 19% tariff on exports to the U.S. while granting tariff-free access for American goods. Talks with India remain ongoing, with negotiators targeting an October–November 2025 completion.