non-tariff barriers

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Bessent: Imposing Aug. 1 tariffs 'will put more pressure' on trade partners for deals
CNBC Television· 2025-07-21 16:30
Again, Becky, we'll see what the president wants to do, but again, I if we somehow boomerang back to the August 1st tariffs, I would think that a higher tariff level will put more pressure on those countries to come with better agreements. We just reached an agreement with Indonesia and I saw five turns of their offers and this started several months ago. I thought their first offer was very good.They came back, the offer kept getting better and better and we ended up with a fantastic trade agreement. I thi ...
Treasury's Faulkender: Vietnam trade deal a huge win for the American farmer
CNBC Television· 2025-07-02 18:41
Trade Negotiations & Agreements - The US is pursuing bilateral trade deals instead of multilateral ones, marking a new approach to global trade [6][7] - A trade deal with Vietnam is imminent and is considered a significant win for American farmers and manufacturers, incentivizing domestic production over routing through China [2][3] - The Vietnam deal opens up the Vietnamese market in unprecedented ways [2] - Negotiations with Japan are ongoing, with anticipated announcements before July 9th, indicating progress in trade relations [5] - The US is seeking reciprocity in trade, addressing non-tariff barriers that hinder access for US manufacturers and farmers to foreign markets [9] - The willingness of countries to lower non-tariff barriers influences the US's tariff considerations [10] Tariffs & Trade Policy - The US may impose tariffs on countries that do not present trade deals facilitating negotiations [13][14] - The specific details of export rates with Vietnam will be released in an upcoming statement [4] China Trade Relations - Negotiations with China continue regarding the framework established in Geneva and the UK [11] - The US is urging China to accelerate access to rare earth magnets, as agreed upon in previous negotiations [11]