EU aims for US trade talks to extend past Trump’s July deadline.

Seems like talks are not proceeding that quickly despite Trump saying that his previous 50% tariff threat sped up the process. The US-China talks are a testament to that as they haven’t reached a deal but just a framework to implement the Geneva agreements.

Of course, this shouldn’t be a surprise given that this stuff takes a lot of time. The important thing is that tariffs were brought down to the 10% level and businesses continue to report that they are planning with the 10-20% tariff range in mind.

Therefore, we might just keep on kicking the can down the road with new 90-days pauses but what matters is that the baseline remains 10%.

Update: Here you can read the full article. Basically, the best case scenario is that they reach an agreement in pricinciple by July 9th deadline.

This article was written by Giuseppe Dellamotta at www.forexlive.com.