Trump "Trade Agreements with Some Countries to be Signed This Week"

Suggests Talks with China

Vice President Vance "India Among First to Sign Agreement"

President Trump announced that trade agreements with some countries could be signed within this week.

According to Bloomberg on the 5th (local time), President Trump responded to reporters' questions about whether trade agreements would be signed this week by saying, "It is very likely." He did not specify any particular countries. He emphasized, "We are negotiating with several countries, but the negotiations are done by me, not them."

President Trump also suggested that aides are talking with the Chinese side. As talks with Asian countries progress and signs emerge that the US-China trade conflict could ease from the current level, financial markets have stabilized over the past two weeks.

President Trump's tariff policy has been centered on China. China also retaliated against the US's tariffs, which reached 145%. However, China recently hinted at the possibility of reducing tariffs, and President Trump also stated in an interview with NBC News on Sunday that he is willing to reduce tariffs someday. However, he said there are no current plans to talk with Chinese President Xi Jinping.

The Chinese government confirmed for the first time last week that it is communicating with US officials regarding trade agreements.

On Sunday, President Trump said, "At some point, we will only set specific tariff rates," and "We will finalize an agreement within the next 2-3 weeks."

President Trump's aggressive tariff policy has raised concerns about a recession and put pressure on the US dollar. According to data from the US Bureau of Economic Analysis (BEA) last week, the US Gross Domestic Product (GDP) declined for the first time in three years.

In an interview with Fox News last week, Vice President JD Vance said that a trade agreement with India would be one of the first agreements. He also added that negotiations are underway with Japan, South Korea, and European countries.

Japan's Chief Trade Negotiator Ryosei Akazawa expressed hope last week that a trade agreement with the US could be reached by June following the last negotiations held in Washington.

However, considering that completing a comprehensive trade agreement can take months or sometimes years, there are many observations that completing trade negotiations quickly will be difficult.

Guest Reporter Jung-A Kim kja@hankyung.com