Bessent says U.S. could wrap up trade talks by Sept. 1 Labor Day

U.S. Treasury Secretary Scott Bessent said Friday that President Donald Trump’s administration could wrap up its drive for trade agreements with countries by the Sept. 1 Labor Day, as he reiterated that trading partners are approaching it with “very good” deals.

Bessent made the remarks during an interview with Fox Business, as South Korea, Japan and other countries have been in trade talks to reach a deal over the Trump administration’s steep “reciprocal” tariffs, their non-tariff barriers and other related issues.

Noting that there are 18 important trading partners, Bessent pointed out that Washington has struck a deal with Britain and reached an accommodation with China.

“So if we can ink 10 or 12 of the important 18 — there are another important 20 relationships — then I think we could have trade wrapped up by Labor Day,” the secretary said.

On April 2, Trump announced reciprocal tariffs intended to match what other countries impose on U.S. goods. The new tariffs took effect on April 9, but the president paused them for 90 days that same day to allow for negotiations.

South Korea and other countries have been hoping to reach a trade deal with the United States before the temporary suspension of the reciprocal tariffs ends on July 8.

On Thursday, White House press secretary Karoline Leavitt said the pause could be extended though the president will make a decision on it.