U.S. Set to Secure Trade Deals Before Tariff Deadline

In a swift move to avoid impending tariff hikes, the United States is on the brink of finalizing several trade deals, according to U.S. Treasury Secretary Scott Bessent.

During an appearance on CNN's "State of the Union," Bessent revealed that the Trump administration plans to send notifications to 100 smaller countries lacking significant trade connections with the U.S. These notices stipulate potential tariff increases if trade negotiations hitch.

Bessent emphasized President Trump's firm stance, indicating that failure to expedite deals by August 1 would result in a reversion to the previously set tariff levels of April 2, highlighting the administration's urgency in securing beneficial agreements.

(With inputs from agencies.)