“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,” Bessent said
Labor Day falls on September 1 this year.
That's not to say all the deals will be papered and completed but we could at least have an idea on tariff levels without any big risk of surprise. That would certainly be positive for markets even if I find it hard to believe that Trump would ever stop threatening tariffs.
It's also worth flagging that trade remains a big risk and deals or negotiations could blow up with retaliation from partners, particularly on steel and autos.
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