US to announce major trade deals to avoid tariff war

US Treasury Secretary Scott Bessent said on July 6 that the US was close to reaching a series of trade agreements before the July 9 deadline, when higher tariffs would officially take effect. Mr. Bessent predicted that there would be many important announcements in the coming days.

Speaking on CNN's "State of the Union," Bessent said the Trump administration will also send letters to 100 small countries that have limited trade relations with the United States, informing them that they will be subject to the higher tariffs, which were first announced on April 2 and then postponed until July 9.

The US Treasury Secretary emphasized: “President Trump will send a letter to a number of trading partners, making it clear that if they do not promote the negotiation process, by August 1, they will have to return to the April 2 tax rate. I think we will see many agreements signed very quickly”./.