White House Hints at Tariff Deadline Delays as Trade Talks Intensify

The White House is signaling a potential willingness to extend tariff deadlines for countries actively engaged in good-faith trade negotiations with the United States. Stephen Miran, Chair of the White House Council of Economic Advisers, indicated on ABC News’ “This Week” that nations making concessions could see their tariff implementation dates rolled back as President Donald Trump’s initial deadline approaches.

Miran expressed optimism about securing more trade deals by the end of the week, noting that negotiations often culminate near deadlines. While declining to name specific countries, he mentioned positive progress in talks with Europe and India. However, he cautioned that countries not demonstrating good faith or making necessary concessions would likely face higher tariffs.

The discussion also delved into the administration’s new economic legislation, dubbed a “megabill.” Miran defended the bill, predicting it would “turbocharge growth” and lead to significant deficit reduction through increased tax revenue and savings. He dismissed Congressional Budget Office (CBO) estimates of health care coverage losses, citing past CBO inaccuracies and arguing that economic growth is the best way to ensure people have insurance.

Conversely, former Treasury Secretary Larry Summers offered a starkly critical assessment of the bill. Appearing alongside Miran, Summers labeled the legislation “dangerous” and a “huge risk to the economy,” particularly highlighting what he called the “biggest cut in the American safety net in history.” He warned of potential consequences including higher inflation, reduced competitiveness, and increased risk of recession and stagflation, attributing these to cuts in subsidies, housing availability, and the overall increase in national debt. Summers strongly refuted claims of economic growth stemming from the bill, calling such projections “nonsense” and emphasizing that the overwhelming economic consensus views the bill as detrimental.

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