Josh Lipsky, international economics chair at the Atlantic Council, cited Indian negotiators’ extension of their US trip recently in noting that it “seems like a frontrunner.”
“Japan was in that category, but things have set back a little,” Lipsky said, referring to Trump’s criticism Monday over what the president called Japan’s reluctance to accept US rice exports.
The deals, however, will unlikely be full-fledged trade pacts, analysts said, citing complexities in negotiating such agreements.
Since April, Washington has only announced a pact with Britain and a deal to temporarily lower tit-for-tat duties with China.
Extended pause
Bessent has also said that countries “negotiating in good faith” can have their tariffs remain at the 10 percent baseline. But extensions of the pause on higher rates would depend on Trump, he added.
“With a new government, (South) Korea looks well positioned to secure an extension,” Cutler of ASPI said.
Lipsky expects many countries to fall into this bucket, receiving an extended halt on higher tariffs that could last until Labor Day, which falls on September 1.
Bessent earlier said that Washington could wrap up its agenda for trade deals by Labor Day, a signal that more agreements could be concluded but with talks likely to extend past July.