financetom
Economy
financetom
/
Economy
/
Trump eyes Aug 1 trade deals as EU, China talks continue, US Commerce chief says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trump eyes Aug 1 trade deals as EU, China talks continue, US Commerce chief says
Jul 29, 2025 7:07 AM

WASHINGTON (Reuters) -President Donald Trump will make his trade deal decisions this week even as separate negotiations with China and the European Union continue, U.S. Commerce chief Howard Lutnick said on Tuesday ahead of Trump's self-imposed Aug. 1 deadline.

U.S. and EU officials were still discussing steel and aluminum tariffs as well as digital services regulations following their framework announced on Sunday, Lutnick told CNBC in an interview, adding that talks with China were also "their own thing".

"But for the rest of the world, we're going to have things done by Friday," he said in the interview.

Asked about remaining uncertainties surrounding the U.S.-EU agreement, Lutnick said Trump was working "to get things done now."

He said pharmaceuticals were a key part of the EU deal so that medicines made in European countries-home to several major drugmakers-would see their products included in the 15% tariff.

"It was important for them to have pharmaceuticals be part of the deal at 15% because President Trump is going to come out in the next two weeks with his pharmaceutical policy, and it is going to be higher," he said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Elon Musk Blasts U.S. Spending Bill as Debt Nears $37T
Elon Musk Blasts U.S. Spending Bill as Debt Nears $37T
Jun 5, 2025
The world's richest man took aim at President Donald Trump’s proposed spending package, calling the One Big Beautiful Bill Act a fiscal disaster. Teslo CEO Elon Musk, the former head of the Department of Government Efficiency, left the department as the legislation moved through Congress, warning it marks the largest increase in the debt ceiling in U.S. history. “This spending...
Factbox-US companies announce layoffs to cut costs
Factbox-US companies announce layoffs to cut costs
Jun 5, 2025
(Reuters) -U.S. companies across sectors have initiated layoffs as they attempt to streamline operations amid economic uncertainties, following similar cutbacks seen last year. Job openings - a measure of labor demand - rose 191,000 to 7.391 million by the last day of April, the Labor Department's Bureau of Labor Statistics said. However, layoffs posted their biggest rise in nine months,...
Factbox-US companies announce layoffs to cut costs
Factbox-US companies announce layoffs to cut costs
Jun 5, 2025
(Reuters) -U.S. companies across sectors have initiated layoffs as they attempt to streamline operations amid economic uncertainties, following similar cutbacks seen last year. Job openings - a measure of labor demand - rose 191,000 to 7.391 million by the last day of April, the Labor Department's Bureau of Labor Statistics said. However, layoffs posted their biggest rise in nine months,...
US Dollar Falls Early Thursday Before Claims, Trade, Productivity
US Dollar Falls Early Thursday Before Claims, Trade, Productivity
Jun 5, 2025
07:58 AM EDT, 06/05/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Thursday, except for a gain versus the yen, ahead of a busy day of economic data releases, starting with weekly jobless claims, international trade data for April, and revised productivity data for Q1, all at 8:30 am ET. Weekly natural gas stocks data...
Copyright 2023-2025 - www.financetom.com All Rights Reserved