Trade Talks: Will Deadlines Bend for Some Nations?

The White House is hinting that some countries might get extra time to finalize trade deals before tariffs kick in. Stephen Miran, head of the White House Council of Economic Advisers, shared this during an interview. He mentioned that countries making real efforts could see their deadlines extended. Miran stayed vague about which countries might get this extension. However, he hinted that talks with Europe and India are going well. He also warned that countries not negotiating sincerely might face higher tariffs. The final call, though, rests with President Trump. The interview also featured former Treasury Secretary Larry Summers. He criticized Trump's tariffs, arguing they'd lead to higher prices and less competition for American businesses. Summers also questioned the economic benefits of these tariffs, saying they'd mostly help the wealthy. Miran defended the administration's economic policies. He argued that past tax cuts boosted growth without hurting long-term revenue. He also dismissed concerns about Medicaid cuts, saying the economy's growth would ensure more people have health insurance. Summers, however, called the current bill "dangerous. " He argued it would cut the safety net, increase inflation, and risk a recession. He also dismissed the White House's claims of economic growth, calling them "nonsense. " The debate highlights a clash of views on trade, taxes, and economic policy. While the White House remains optimistic about growth, critics like Summers warn of potential economic risks.