Trump administration pushes forward on major trade talks

The Trump administration is ramping up international trade negotiations this week, engaging with top global partners just days ahead of critical tariff deadlines.

(CNN)-  The Trump administration is ramping up international trade negotiations this week, engaging with top global partners just days ahead of critical tariff deadlines.

President Donald Trump is meeting today with U.K. Prime Minister Keir Starmer in Scotland, where the two leaders are expected to refine a trade agreement outline signed last month. The White House says the talks are aimed at solidifying economic ties and advancing transatlantic cooperation.

“This is a major moment for transatlantic trade,” said Josh Lipsky, Senior Director of the Atlantic Council’s GeoEconomics Center.

At the same time, European Union countries are considering a new trade framework unveiled yesterday by President Trump and the EU Commission President. The deal proposes a 15% tariff on EU imports—a significantly lower rate than the one Trump had threatened to impose by the end of the week. Former U.S. Ambassador to the EU Gordon Sondland said the pressure is on European nations to accept the proposal.

“I don’t think the countries that are not going to go along with this are going to have a choice,” Sondland said. “They’re between a rock and Donald Trump.”

Meanwhile, Treasury Secretary Scott Bessent is in Sweden holding trade talks with Chinese officials. The U.S. and China have already outlined a preliminary agreement and hope to finalize it by August 12. Sondland noted that the flurry of trade deals strengthens the administration’s position. “The more deals we have with other countries, the more leverage it gives the president and his team,” he said.

Economists say the agreements are beginning to provide clarity for U.S. businesses on how much they’ll need to budget for tariffs. But those costs are unlikely to stay behind the scenes