Gutierrez: Reciprocal tariffs are likely on some countries this July

Trade Negotiations & Tariffs - The back half of the year is expected to resolve many trade issues, but progress has been slow [1] - Complexity of deals and limited US negotiation resources are delaying progress [2][3] - Reciprocal tariffs on some countries like Japan and India are likely [4][5] - EU negotiations are particularly tough, involving value-added tax, anti-monopoly law, and food regulations [8][9] China Trade Dynamics - China negotiations are focused on export controls in exchange for US access to rare earths [7][8] - A China deal is not expected to be negotiated quickly, with tariffs potentially remaining around 30% [8] - Securing a deal with China on export controls could open doors to further negotiations [8] Impact on Trade Relations - Failure to reach deals with Japan, India, and the EU could complicate a final deal with China [6] - The US is pursuing the most difficult trade issues, not low-hanging fruit [3]