Overview

• Starting Monday, Treasury Secretary Scott Bessent said letters will go to roughly 12 countries warning they face original April 2 tariff rates on August 1 if no interim agreements are reached
• Officials indicated that nations negotiating in good faith, such as the EU and India, could receive extensions beyond the July 9 pause expiration
• Interim framework pacts have already been announced with the United Kingdom, Vietnam and China to guide further negotiations
• Bessent and other advisers expect several trade deals to materialize in the next few days as markets remain on alert
• The administration is using this high-pressure campaign to secure swift temporary concessions ahead of broader bilateral talks planned this fall