The United States is close to clinching several trade deals ahead of a July 9 deadline when higher tariffs kick in, U.S. 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 U.S. 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.
Source:
https://www.newsmax.com/newsfront/bessent-trade-tariffs/2025/07/06/id/1217762/