Republicans express concern about lack of Trump trade deals

A number of Republicans are becoming increasingly frustrated with the lack of tariff deals from President Trump two weeks away from a July 8 deadline that could lead to the reinstating of heavy tariffs on imports from around the world.

The administration has announced deals with China and the United Kingdom, and it insists it is working hard on others. Officials have also suggested there could be some wiggle room on the deadline.

“I think they’re working very hard on them — I know that for a fact,” said Sen. Susan Collins (R-Maine). “I think the approach that was taken in the first place creates a lot of complications because it does produce this enormous workload and need for negotiation with an enormous number of countries.”

Asked whether she is concerned the administration’s negotiators are stretched thin, Collins was blunt. “Yes,” she said. “Very.”

Trump announced wide-ranging tariffs in April, saying heavy duties would be placed on imports from countries around the world. The announcement contributed to a stock sell-off, and the president quickly shifted his tune, saying the larger tariffs would be put off for 90 days to provide time for negotiations.

That has helped markets rebound, though they have not reached their highs from before the tariffs.

The short time period and the lack of deals so far are raising nerves on Capitol Hill.

“Members want the president to make quick trade deals because we need clarity and certainty from a business perspective,” said one senior Senate GOP aide.

“Obviously, the president has rightfully lofty goals about economic growth, and that’s not going to happen if we have prolonged uncertainty in the marketplace,” the aide added, noting that numerous companies have not only hit the pause button on growth opportunities, but also are losing money and being forced to divert business overseas because of the uncertainty surrounding the Trump tariff agenda. 

The source also noted there’s confusion as to who the point person in the Trump administration is on tariffs.

“It’s not only that they’re stretched thin, but there’s also confusion on who’s the lead here,” the aide said, noting that at various points, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick have taken the wheel. “I just don’t think any of that’s helpful either.” 

Members want to see more trade deals as soon as possible to provide more certainty for businesses.

“There’s definitely a lot of uncertainty,” Sen. Shelley Moore Capito (R-W.Va.) said. “Everybody, and I know the administration’s working toward this, would like to see … more numerous solid wins.”

“There’s just a lot of anxiety in terms of deployment of capital because people are uncertain, and I think some good, solid wins as we move into July are going to allay that,” she continued. “I think in the beginning that helped. They had a couple of wins and then it’s gone a little silent.” 

The tariffs have fallen in attention as markets rebounded and the focus on Capitol Hill turned to Trump’s legislative agenda. The Senate this week will try to move his budget reconciliation package, which would extend and expand the 2017 tax cuts. It hopes to complete work on the bill by July 4, though that deadline is in danger of slipping.

The tax bill is also meant to provide certainty to business, so many senators see the two issues as going hand-in-hand.

“This is all about certainty, and we have a lot of uncertainty with [the bill], plus this. It’s just compounding [problems for businesses] right now,” the Senate aide said. 

Bessent stayed at the Group of Seven (G7) summit in Canada after Trump left early Monday night. While the Treasury Department didn’t announce any concrete progress from Bessent at the G7 on trade, Bessent suggested to lawmakers earlier this month that the July 8 deadline could have some wiggle room for certain countries.

“It is highly likely that for those countries that are negotiating — or trading blocs, in the case of the EU — who are negotiating in good faith, we will roll the date forward to continue the good-faith negotiation,” Bessent said. “If someone is not negotiating, then we will not.”