The United States will unveil “several” trade announcements within the next 48 hours, Treasury Secretary Scott Bessent said in a CNBC interview on Monday, framing the push as a last-minute effort to finalise agreements before a self-imposed 9 July deadline. Bessent told the network his office received “a lot of new offers” overnight and that “it’s going to be a busy couple of days.” President Donald Trump has ordered letters detailing prospective tariff rates to start going out from noon Eastern time on Monday, a move aimed at pressuring partners to conclude negotiations quickly. Countries failing to reach accords could see tariff rates snap back on 1 August, Bessent warned, emphasising that the administration cares more about “the quality of the deals, not the quantity.” The secretary added that the United States still expects to achieve economic growth “without inflation” despite the trade brinkmanship. Looking beyond the immediate deadline, Bessent said he expects to meet his Chinese counterpart in the coming weeks to discuss trade, critical minerals and other issues. He declined to say whether the separate U.S. effort to force a sale of TikTok’s U.S. operations would be linked to those talks, but suggested Washington is open to broader cooperation “if the Chinese want to do it.”
US COMMERCE SECRETARY LUTNICK: I AM EXPECTING TO TALK TO CHINA IN AUGUST WITH US TREASURY SECRETARY BESSENT.
US Commerce Secretary Lutnick Plans Discussion With China Alongside US Treasury Secretary Bessent In August. 🇺🇸🇨🇳
US Commerce Secretary Lutnick: I am expecting to talk to China in August with US Treasury Secretary Bessent.