• Trump is open to extending the July 8 deadline for trade talks but thinks it may not be necessary.
• The U.S. will soon send letters to numerous countries outlining unilateral tariff terms.
• Trade negotiations with about 15 countries, including Japan and South Korea, are ongoing.
• A 90-day pause on tariffs is set to expire, increasing pressure for final agreements.
• U.S. Treasury Secretary indicated flexibility around the deadline for those negotiating in good faith.

U.S. President Donald Trump stated on June 11 that he is open to extending a July 8 deadline for completing trade talks before higher tariffs come into effect. However, he emphasized that he does not believe an extension will be necessary. Speaking to reporters at the Kennedy Center, Trump noted that trade negotiations are ongoing with around 15 countries, including South Korea, Japan, and the European Union. Trump remarked, "We're rocking in terms of deals," indicating confidence in the progress of these negotiations, according to Reuters, Channel News Asia, and Business Insider.

Trump indicated that the U.S. would send out letters in one to two weeks detailing the terms of various trade deals to dozens of countries, which they can either accept or reject. He asserted, "At a certain point, we're just going to send letters out ... saying, 'This is the deal. You can take it, or you can leave it,'" reinforcing the administration's stance on unilateral tariffs. Only one trade deal has currently been finalized with the U.K., while 17 others remain under negotiation, according to Times of India and Channel News Asia.

The expiration of a 90-day tariff pause on July 8 is expected to heighten pressure on countries to reach agreements. U.S. Treasury Secretary Scott Bessent mentioned that extensions could be offered to countries negotiating in good faith, marking the first indication of flexibility regarding the deadline from a Trump administration official. He stated, "It is highly likely that those countries - or trading blocs as is the case with the EU - who are negotiating in good faith, we will roll the date forward," according to Business Insider, Reuters, and Times of India.

Trump's recent comments come after an abrupt pause was announced in his aggressive tariff rollout, which initially sent markets into turmoil. The pause followed a "Liberation Day" tariff threat that resulted in historically significant market drops. The markets began to stabilize upon the announcement of the pause and continued their recovery as the administration scaled back tariffs, highlighting the volatility and impact of Trump's trade policies, according to Times of India and Channel News Asia.