United States National Economic Council Director Kevin Hassett said on Thursday that several trade deal negotiations are "really well advanced" and nearing the "finish line," although he did not offer more details. He told CNBC that almost 20 countries are "making offers" and that two trade deals are "almost closed" as of last week. However, he said negotiations with China have not started yet.
Hassett conceded that the moves in the bond market "may have contributed" to US President Donald Trump's decision to pause tariffs but that it did not "cause a panic move." He insisted that the tariff implementation process "moved in an orderly fashion" and that the schedule to make trade deals is "very doable," although only an "extraordinary" agreement would cause the US to drop the 10% "baseline" levy imposed on all imports into the US.
