Lawmakers could remove the so-called “revenge tax” drafted by House Republicans for President Trump’s “One Big Beautiful Bill” Act if trade partners, “issue policy pronouncements today or tomorrow,” White House National Economic Council Director Kevin Hassett told Fox Business.

Already nearly 60 trading partners face reciprocal tariffs ranging up to 50% unless they strike deals with the Trump administration by July 8.

Hassett earlier this week said the U.S. hopes to announce several trade deals around July 4, the GOP’s deadline to pass Trump’s bill.

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