FX.co ★ U.S. Targets October Deadline for Final Trade Deals

The United States is targeting the conclusion of trade negotiations with remaining countries by the end of October, according to Treasury Secretary Scott Bessent, who shared this update with Nikkei Asia following the implementation of President Donald Trump's comprehensive new tariff measures. Key trade partners, such as Canada, Mexico, and Switzerland, are advocating for more favorable terms as part of these discussions.

In July, the U.S. finalized a pivotal agreement with the European Union, which established a standardized 15% tariff on most imports. This deal was balanced by $600 billion worth of U.S. investments and $750 billion committed to energy purchases. A subsequent agreement with Japan saw the reduction of tariffs on automobiles and industrial products to 15%, while Japan committed to $550 billion in investments into the U.S. Further agreements were successfully negotiated with Indonesia, Malaysia, and the Philippines, each instituting a 19% tariff on exports to the U.S., alongside the provision of tariff-free entry for American goods. Negotiations with India are ongoing, with parties aiming to conclude by October to November 2025.