Russell Vought promises ‘faster’ trade deals around the world
In a recent statement, Russell Vought, the Director of the Office of Management and Budget, emphasized the U.S. governance’s commitment to expediting trade negotiations with other countries, showcasing a more proactive approach compared to previous efforts.During an appearance on Fox News’s *America’s newsroom*, Vought noted that while negotiations are ongoing, he refrained from providing specific timelines for the completion of any trade agreements. He expressed confidence that the administration would achieve significant outcomes for the American people.
Despite some countries reducing tariffs in response to previous U.S. tariffs implemented by President Trump against 86 nations, China remains a significant challenge with a 145% tariff on U.S. goods and has adopted a more aggressive stance by halting exports of critical minerals to the U.S. Vought indicated that China’s willingness to negotiate has been limited, which complicates the overall trade landscape.
Russell Vought promises ‘faster’ trade deals around the world
Director of the Office of Management and Budget Russell Vought assured that the team behind the trade deals between the United States and other countries is after fast results.
President Donald Trump issued tariffs against 86 countries, but some 75 countries have reduced their tariffs to 10%. Negotiations happened before Trump issued a pause against most tariffs through July 9.
Vought confirmed “negotiations are ongoing” but couldn’t provide a deadline for when a finalized trade deal could emerge with any country on Fox News’s America’s Newsroom Tuesday.
“We’re not going to put ourselves on any kind of deadline with regard to that, but to the extent that these are all conversations — the countries are coming in, they’re very serious,” Vought said. “We’re doing everything faster. We are on a fundamentally different time frame than we were in the first term, as fast as we were doing things then.”
“I think we’re going to have some incredible results on behalf of the American people,” Vought said.
China remains the outlier with a 145% tariff. The Chinese Communist Party filed a lawsuit against the U.S. with the World Trade Organization over its initial 10% tariff. In an additional move to pressure the U.S., China issued tariffs against Canada. Most recently, China opted to halt the exports of critical minerals to the U.S.
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According to Vought, China doesn’t “want to come to the table” for negotiations. The White House has been skittish in confirming whether Trump has spoken to Chinese President Xi Jinping.
Currently, China imposes a 125% tariff on U.S. goods, bucking the rest of the world in its response to international tariffs.
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