U.S. Treasury Secretary: It may not be possible to complete the entire tariff agreement in 90 days.

U.S. Treasury Secretary: 90 Days May Not Complete Full Tariff Deal In an interview on Tuesday, U.S. Treasury Secretary Bessant said in an interview that it could take longer than the 90-day moratorium set by the Trump administration last week. “We have 15 large trading partners, 14 in addition to China, and we’re moving fast to establish a process for those 14 largest trading partners, most of which have huge trade deficits [with the United States],” he said. So, can we complete a complete, formal legal document within 90 days? Unlikely. ” He continued, “But I believe that if we follow the process, we may make substantial and clear progress in reaching a principled agreement with these 14 countries. Then, once we have reached a level that both sides agree to, and they agree to lower tariffs, reduce non-tariff barriers, stop manipulating exchange rates, and cease subsidies to industries and labor, then I think we can move forward.” Earlier, the White House issued regulations exempting smartphones, computers, semiconductors, and other electronic products from retaliatory tariffs. Trump also quickly downplayed his suggestion of a reversal on tariff issues, stating that “there are absolutely no tariff exemptions.”