Media: U.S. officials seek to narrow the scope of the trade deal, aiming to reach an agreement by July 9

On July 1, according to the Financial Times, Trump's top trade officials are scaling back their ambitions to reach a comprehensive reciprocal agreement with foreign countries, seeking a smaller agreement to avoid the re-imposition of US tariffs. Four sources said US officials were seeking a phased agreement with the most involved countries, and they were aiming to reach an agreement by July 9. The smaller, piecemeal plan for a new deal marks the White House's abandonment of a commitment to reach 90 trade deals during the 90-day moratorium on comprehensive "reciprocal" tariffs announced by the president on April 2, but also provides an opportunity for some countries to reach a modest agreement. The BRICS countries are seeking to reach a "deal in principle" on a handful of trade disputes before the deadline, according to people familiar with the matter. < b > Countries that agree to these narrower agreements will be exempt from the harsher reciprocal tariffs, but will still be subject to the existing base tariff of 10 percent, while negotiations on more difficult issues continue. However, negotiations remain complex and the administration is also considering tariffs on key industries.