Donald Trump's administration wants to conclude 90 trade agreements within 90 days, “Reuters said. According to experts, this will not be an easy task, and according to some “there is no chance” to succeed.
On Monday, one of the first negotiating partners will be the head of the European Union for trade in Marosz Główczovicz. He will arrive urgent negotiations regarding the Trump's high customs tariffs. The EU is one of the largest trading partners USAwith double -sided commercial exchange of nearly $ 1 trillion, “Reuters pointed out.
Conversations without the main negotiator on the USA
As Reuters wrote, during the arrival in Washington, the boss's boss on the spot will not be the main negotiator of the president Donald Trump Tariffs – Treasury Secretary of Scott Bessent. It is then to be in Argentinadespite the fact that trade with this country is $ 16.3 billion a year. The agency pointed out that the absence of such a key character during negotiations raises doubts among experts as to the possible effectiveness in the implementation of the plan.
Wendy Cutler, the former negotiator of the US sales representative, who now manages the Asia Society Policy Institute, ensures that “making these decisions will require serious negotiations.” She added that “there is no chance that a comprehensive agreement with any of these countries was possible at that time.”
In turn, the White House Trade Advisor Peter Navarro said on Friday on Fox Business Network that the US representative for trade Jamieson Greer and the Secretary of Trade Howard Lutnick will cope with this task.
– So we intend to carry out 90 transactions within 90 days. It is possible – he noted. He added that the final decisions will be made by Trump himself. – The boss will be the main negotiator. Nothing is done without his careful look at it – he added.
Suspension of duties for 90 days. Turbulence on the market exert pressure
Reuters explained that Trump started counting 90 days from the time of suspension of “mutual” duties. The rapid reaction of the financial markets and fear of recession and growth contributed to this action inflation. Trump emphasized that a 90-day break will allow countries to conclude bilateral contracts with the USA.
The second goal of freezing new tariffs is to regain the trust of financial markets. The agency adds that investors have sold American Treasury bonds Last week, which caused a decrease in the value of the dollar for fear of recession in the USA and the revival of inflation. Gold, which is a shelter for investors during the crisis, reached a record level.
According to Cutler, these turmoil exert pressure on the Trump team, which will want to win quickly. – The burden will rest on them to show that they can quickly conclude contracts with countries and build trust on the market and other trading partners, that there is a chance to get out of this situation – she noted.
“Huge challenge”
The agency added that the tightening trade war with China Last week, she deepened pessimism on financial markets. The former negotiator of the US sales representative added that the achievement of agreements that will satisfy both Trump, but also the financial markets will be a “huge challenge”. In her opinion, President Donald Trump will have to prioritize conversations with key countries and extend the 90-day break for the others.
Reuters reminded that Trump's negotiations, amending the automotive and steel provisions in the free trade agreement between the USA and South Korea, which took place during his first term, lasted over eight months. However, the conclusion of a comprehensive trade agreement between the USA, Mexico and Canada It lasted over two years.
Greer pointed out that the US can get enough to the point where the president will be able to close the negotiations of contracts and consider whether this is a stage to accept its conditions or to introduce customs.
Staff shortage
An additional problem mentioned by Reuters is the logistic coordination of a series of negotiations, due to the limited staffing capabilities of Trump's administration. Many key positions have not been planted, and officials who are in these positions are often busy with other tasks. This was the case with tax officials who met representatives on Friday Ukraine on an agreement regarding the metal of rare lands.
Greer pointed out at the Fox News station that his 200-person team worked “all the time”, exchanging proposals with foreign partners.
Reuters emphasized that the US Department has only one other high -ranking official approved by the Senate, deputy secretary of the treasury Michael Faulkender. Trump did not even nominate anyone in the key position of Undersecretary for International. In the office of the United States Trade Representative (UPR) there is also a few key positions of deputies requiring approval by the Senate. The staff is currently based largely on full -time employees.
Another factor complicating the situation is uncertainty about the US position in commercial issues. Each of the main advisers of Trump for trade has their own opinion. – It's not like there is a piece of paper with hard points for discussion that changes the owner. It's a process. And I would say to use the date of conversation, not negotiations – one of the diplomatic sources said.
Reuters added that some countries, including Great Britain And Australia, talked to the administration about trade since the inauguration of Trump in January, but this did not bring much results.
Source of the main photo: PAP/EPA/SHAWN THEW/POOL