Top Saudi Delegation Attends Saudi-Iraqi Coordination Council in Baghdad

File photo: Saudi Arabia's King Salman bin Abdulaziz meets with Iraq's President Barham Salih during his visit in Riyadh, Saudi Arabia, November 18, 2018. Reuters
File photo: Saudi Arabia's King Salman bin Abdulaziz meets with Iraq's President Barham Salih during his visit in Riyadh, Saudi Arabia, November 18, 2018. Reuters
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Top Saudi Delegation Attends Saudi-Iraqi Coordination Council in Baghdad

File photo: Saudi Arabia's King Salman bin Abdulaziz meets with Iraq's President Barham Salih during his visit in Riyadh, Saudi Arabia, November 18, 2018. Reuters
File photo: Saudi Arabia's King Salman bin Abdulaziz meets with Iraq's President Barham Salih during his visit in Riyadh, Saudi Arabia, November 18, 2018. Reuters

A top Saudi delegation led by Minister of Commerce and Investment Majid al-Qassabi will travel to Baghdad on Wednesday to meet Iraqi officials on trade and investment and attend the second meeting of the Saudi-Iraqi Coordination Council.

The delegation is scheduled to hold talks with Iraqi President Barham Salih, Prime Minister Adel Abdul Mahdi and Speaker Mohammed al-Halbousi.

Iraqi Foreign Ministry spokesman Ahmed al-Sahhaf told Asharq Al-Awsat that the visit of the Saudi delegation comes within the framework of coordination between the two countries at all levels.

Sahhaf pointed out that Saudi Arabia can play a role in Iraq’s reconstruction phase, and cooperate with various economic figures.

The first session of the Saudi-Iraqi Coordination Council was held in October 2017 under the patronage of Saudi King Salman bin Abdulaziz and former Iraqi prime minister Haider al-Abadi.

During Wednesday’s visit, the two sides are expected to sign important agreements and launch a number of projects in several fields.

Saudi Ambassador to Iraq Abdul Aziz al-Shammari noted that Saudi-Iraqi relations are at their best.

The diplomat indicated that Riyadh plans to issue visas to Iraqi citizens through a consulate that is set to open in Baghdad in the coming months.

The Saudi-Iraqi Coordination Council aims to enhance relations between both countries in all fields and coordinate efforts to serve the interests of the peoples of the two states.

It also aims to promote the exchange of technical expertise between Saudi Arabia and Iraq and enhance cooperation in the field of scientific research.

Earlier, the Saudi ambassador told Asharq al-Awsat that the Arar border crossing will open in June, after Riyadh pledged to fully establish an Iraqi crossing point with all the needed requirements including the infrastructure, technical and office supplies, and inspection equipment.

Shammari stressed that area will host the largest trade exchange facility between the two countries, and will be on the Saudi side. He asserted that all imported goods from Saudi Arabia will cost less when transferred via Arar and will have a positive impact on Iraq’s economy.

The diplomat also revealed that the two countries are mulling to sign an agreement to issue visas for Iraqi businessmen and citizens to enter Saudi Arabia.



US Close to Several Trade Deals, Announcements to be Made in Next Days, Bessent Says

US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., US, June 27, 2025. REUTERS/Elizabeth Frantz/File Photo
US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., US, June 27, 2025. REUTERS/Elizabeth Frantz/File Photo
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US Close to Several Trade Deals, Announcements to be Made in Next Days, Bessent Says

US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., US, June 27, 2025. REUTERS/Elizabeth Frantz/File Photo
US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., US, June 27, 2025. REUTERS/Elizabeth Frantz/File Photo

The United States is close to clinching several trade deals ahead of a July 9 deadline when higher tariffs kick in, US Treasury Secretary Scott Bessent said on Sunday, predicting several big announcements in coming days.

Bessent told CNN's "State of the Union" the Trump administration would also send out letters to 100 smaller countries with whom the US doesn't have much trade, notifying them that they would face higher tariff rates first set on April 2 and then suspended until July 9.

"President Trump's going to be sending letters to some of our trading partners saying that if you don't move things along, then on August 1 you will boomerang back to your April 2 tariff level. So I think we're going to see a lot of deals very quickly," Bessent said.

Bessent denied that August 1 was a new deadline for negotiations. "We are saying this is when it's happening. If you want to speed things up, have at it. If you want to go back to the old rate, that's your choice," he told CNN, Reuters reported.

The US Treasury chief said the Trump administration was focused on 18 important trading partners that account for 95% of the US trade deficit. But he said there had been "a lot of foot-dragging" among countries in getting closure on a trade deal.

He declined to name countries that were close to a trade agreement, adding, "because I don't want to let them off the hook."

Trump has repeatedly said India is close to signing a deal and expressed hope that an agreement could be reached with the European Union, while casting doubt on a deal with Japan.

Since taking office, the US president has set off a global trade war that has upended financial markets and sent policymakers scrambling to guard their economies, including through deals with the US and other countries.

Trump on April 2 announced a 10% base tariff rate and additional amounts for most countries, some ranging as high as 50%. The news roiled financial markets, prompting Trump to suspend all but the 10% base rate for 90 days to allow more time for negotiations to secure deals, but the process has proven more challenging than expected.

That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70% - with most set to go into effect August 1.

Bessent, asked about the 70% rate, referred back to the April 2 list, but that did not include such high rates.