The Trump administration has pared back its ambitions for sweeping, comprehensive trade pacts and is instead racing to conclude a series of narrower, phased agreements with the countries most advanced in negotiations before a 9 July deadline, the Financial Times reported, citing people familiar with the talks. Officials hope that securing even limited deals will allow trading partners to escape the return of steep ‘reciprocal’ tariffs—ranging from 10 % to 50 %—that President Donald Trump announced in April but suspended for 90 days. The administration is still debating whether to apply additional levies on industries it deems critical, including aerospace components, pharmaceuticals, semiconductors and other strategic minerals, the report said. Thus far, only a partial accord with the United Kingdom has been finalised. Negotiations with the European Union, Japan, India and more than a dozen other partners continue, with Treasury Secretary Scott Bessent warning this week that higher duties could take effect as early as next week if talks stall.