The United States of America is close to concluding several more trade agreements before increased tariffs are set to take effect on July 9. This was stated by US Treasury Secretary Scott Bessent, UNN reports with reference to Reuters.
Details
Speaking on CNN, Bessent said that President Donald Trump will soon send letters to 100 small countries with which America does not have much trade.
In these letters, countries will be informed that they will have to face higher tariff rates that were set on April 2 and then suspended for 90 days.
President Trump is going to send letters to some of our trading partners saying that if you don't move the situation off dead center, then on August 1 you will boomerang back to the April 2 tariff level. So I think we're going to see a lot of deals very quickly.
At the same time, he denies that August 1 is a new deadline for tariff negotiations.
We are saying that this is exactly when it happens. If you want to speed up the process, act. If you want to return to the old tariff, that's your choice.
Reuters also quotes Kevin Hassett, who heads the White House National Economic Council. In an interview on CBS, he offered countries that are conducting serious negotiations conditional freedom of maneuver.
"There are deadlines, and there are events that are close, so maybe something will be postponed after the deadline," Hassett said, adding that Trump will decide if that can happen.
Recall
US President Donald Trump said he had signed letters to 12 countries outlining the tariff levels to be paid for goods exported to the US. Trump said this to reporters aboard Air Force One.