U.S. Races Against High Tariff Deadline to Secure Global Trade Deals

The United States is working on several trade deals before a July 9 deadline for increased tariffs, as announced by U.S. Treasury Secretary Scott Bessent. President Trump plans to send letters to several trading partners, urging finalization or facing tariff hikes. Key talks involve Europe, India, and Thailand.

The United States is in a race against time to finalize multiple trade agreements before the July 9 deadline, when higher tariffs are expected to be enforced. U.S. Treasury Secretary Scott Bessent made the announcement on Sunday, hinting at major deal announcements in the coming days.

Speaking on CNN's "State of the Union," Bessent disclosed President Trump's strategy to send letters to 100 smaller trading partners lacking substantial commerce with the U.S. These letters will inform them of impending higher tariffs unless negotiations are advanced, triggering a push for swift deal-making.

As discussions intensify, key talks are reportedly underway with Europe, India, and Thailand. The administration is focused on countries contributing heavily to the U.S. trade deficit. Despite progress, foot-dragging by some nations has delayed final agreements. The White House remains committed to opening U.S. markets through strategic negotiations.

(With inputs from agencies.)