US eyeing talks within framework with 18 trading partners: WSJ

US eyeing talks within framework with 18 trading partners: WSJ

The White House has announced plans to engage in talks with 18 trading partners, aiming to establish a new trade framework. This initiative, reported by The Wall Street Journal, follows recent developments in US-China trade relations and the ongoing Iran-US nuclear negotiations.

In a significant shift, the US has expressed interest in forming a new trade framework with 18 trading partners. This move comes as the Trump administration seeks to diversify its trade relationships and reduce reliance on any single trading bloc. The initiative is seen as a response to the ongoing tariff tensions with China, which have led to mixed signals from the US and China regarding the state of their trade relations [1].

The US has been actively involved in trade negotiations with various countries, including South Korea, where a trade deal is reportedly close to being finalized. Treasury Secretary Scott Bessent has praised South Korea's approach and suggested that a deal could be concluded next week. Additionally, the White House has ordered a probe into truck imports, paving the way for potential tariffs on the sector, while maintaining the baseline 10% tariff that went into effect on April 5 for all affected imports into the US [1].

Meanwhile, the US is also engaged in critical talks with Iran regarding its nuclear program. The Iran-US negotiations have seen mixed progress, with Iran insisting on its right to enrich uranium while the US presents its full list of demands. Iran's Supreme Leader, Ali Khamenei, has met with Saudi Defense Minister Prince Khalid bin Salman, signaling a shift in regional dynamics and support for the ongoing talks. However, the negotiations remain complex, with reformist and hardline factions in Iran divided over the pace and direction of the talks [2].

The new trade framework initiative is part of the Trump administration's broader strategy to bolster US trade relations and ensure economic stability. As talks with various trading partners progress, investors and financial professionals will closely monitor the developments for potential impacts on global trade and economic growth.

References:

[1] https://finance.yahoo.com/news/live/trump-tariffs-live-updates-china-eases-some-us-tariffs-as-trump-sows-confusion-on-state-of-talks-191201613.html
[2] https://www.iranintl.com/en/liveblog/202504190667