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President Donald Trump says he is not planning to extend a 90-day pause on tariffs on most nations beyond July 9, when the negotiating period he set would expire.

President Donald Trump said he was ending all discussions with Canada after claiming the country moved to implement a digital services tax, and threatened to impose a fresh tariff rate.

The EU and the U.S. believe they can clinch a trade agreement before a July 9 deadline, when Washington is set to impose a 50% tariff on nearly all EU products and the bloc plans countermeasures.

Treasury Secretary Scott Bessent said the administration’s agenda for trade agreements could get wrapped up by Labor Day, indicating some talks could extend past the July  9 deadline.

Washington and Beijing have signed a trade agreement that will make it easier for U.S. firms to obtain magnets and rare earth minerals from China, Treasury Secretary Scott Bessent said June 27.

A group of Canadian steel producers said the government’s plan to restrict foreign steel imports isn’t strong enough and warned that the industry is set to shed thousands more jobs.

Tariff negotiations are running into roadblocks, as partners including Japan, India and the EU balk at signing deals without knowing how badly they’ll be hit by separate levies on exports.

EU leaders are set to debate their strategy in response to President Donald Trump’s trade war, with the choices coming down to accepting an unbalanced deal or risking escalation by striking back.

Federal Reserve Chair Jerome Powell on June 25 said the U.S. central bank is still struggling to determine the impact of tariffs on consumer prices.

“You’re the only country that is not paying. I don’t know what the problem is,” Trump said when asked about Spain balking at paying 5% of their GDP on defense.