The United States has indicated it will not be rushed into finalising trade agreements ahead of the August 1 deadline for higher tariffs, emphasising that the quality of deals takes precedence over timing.

According to Reuters, U.S. Treasury Secretary Scott Bessent stated that the Trump administration is focused on securing strong and comprehensive agreements rather than meeting arbitrary deadlines.

“We’re not going to rush for the sake of doing deals,” Bessent told CNBC during an interview.

Asked whether the August 1 deadline could be extended for countries engaged in productive negotiations with Washington, Bessent noted that the final decision rests with President Trump.

“We will see what the President wants to do,” he said. “But again, if we somehow boomerang back to the August 1 tariff, I would think that a higher tariff level will put more pressure on those countries to come up with better agreements.”

Reuters added that Bessent hinted at the possibility of upcoming discussions with China, saying, “I think trade is in a good place, and I think now we can start talking about other things. The Chinese, unfortunately, are very large purchasers of sanctioned Iranian oil and sanctioned Russian oil.”

On the issue of broader geopolitical concerns, Bessent said he would also encourage European countries to support secondary tariffs on Russia if the U.S. moves in that direction.

In his comments on Japan, the Treasury Secretary noted that the administration is less concerned about Japan’s internal political landscape and more focused on securing a deal that benefits American interests.

Reuters further reported that discussions with China may also cover what Bessent described as a “great rebalancing” needed within the Chinese economy.

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