Treasury Secretary Bessent: Several trade announcements in next 48 hours - CNBC

Treasury Secretary Bessent: Several trade announcements in next 48 hours - CNBC

US Treasury Secretary Scott Bessent has hinted at significant trade developments in the coming days, indicating that several major announcements are imminent. Speaking to CNN's "State of the Union" on Sunday, July 6, 2025, Bessent suggested that President Donald Trump is close to finalizing several trade deals ahead of the July 9 deadline [1].

Bessent emphasized that the administration is not setting a new deadline for negotiations but rather providing a clear timeline for when tariffs will resume. He stated that countries that have not reached an agreement will revert to their April 2 tariff levels on August 1 [1]. This announcement comes as the 90-day tariff pause is set to expire on July 9, prompting concern among investors and trading partners.

The Treasury Secretary also mentioned that letters will be sent to 100 smaller countries, notifying them of higher tariff rates that were initially set on April 2 and subsequently suspended until July 9. Bessent expects these letters to prompt swift action and negotiations, suggesting that many deals could be finalized quickly [1].

Additionally, Bessent hinted at several "big announcements" in the coming days, which could include significant trade agreements. He did not specify which countries are close to finalizing deals but emphasized that the administration is actively working towards securing favorable trade terms [2].

These developments come amidst ongoing negotiations with various nations, including India, which has been engaged in talks with the United States. India's Union Minister for Commerce and Industry, Piyush Goyal, has stated that the country will not enter into any trade deal under pressure and will only accept a deal that is fully matured and in the national interest [2].

Investors and financial professionals are closely monitoring these developments, as the outcome of the trade negotiations could have significant implications for global markets. The potential for higher tariffs and the impact on trade flows are key factors to consider as the July 9 deadline approaches [3].

References:
[1] https://www.cnbc.com/2025/07/06/bessent-tarrifs-trump-august.html
[2] https://www.livemint.com/economy/india-us-trade-deal-soon-us-treasury-secretary-scott-bessent-hints-at-several-big-announcements-in-coming-days-11751809854238.html
[3] https://www.business-standard.com/economy/news/us-close-to-several-trade-deals-announcements-expected-in-days-bessent-125070600767_1.html