U.S. Treasury Secretary Scott Bessent said negotiations on a series of trade agreements are "moving along" ahead of an Aug. 1 deadline set by the White House. In an interview with CNBC, he stressed that Washington is focused on securing "high-quality deals" rather than rushing to meet the calendar date, adding that President Biden has "created maximum leverage" for U.S. negotiators. Bessent reported "better" momentum in talks with the European Union and described the bloc’s preparation for potential retaliation as a normal negotiating tactic. He also said recent discussions with Japan covered the "overall relationship," signaling that the administration is working on multiple trade fronts simultaneously. On China, the secretary said the two sides are "in a good place" and "back on track," allowing them to move to "bigger talks" after months of fits and starts. While he called Beijing’s share of roughly 30 % of global manufacturing "unsustainable," Bessent indicated the United States is ready to broaden the agenda once current issues are resolved.