U.S. Treasury Secretary Scott Bessent on Sunday warned that countries that don’t make trade deals with the U.S. will return to their April 2 tariff rates starting in August, while noting that the Trump administration expects a flurry of trade agreements to be completed this week ahead of President Donald Trump ’s original deadline.

Treasury Secretary Scott Bessent offered some more clues about tariff/trade negotiations as the president's latest deadline approaches this week. "We are going to have several announcements in the next 48 hours,

Major US trading partners hurried over the weekend to secure trade deals or lobby for extra time, while Treasury Secretary Scott Bessent indicated that some countries lacking an agreement by the deadline Wednesday will have the option of a three-week extension to negotiate.

Financial markets are on edge about higher import taxes, but White House officials say they anticipate “a lot of deals very quickly.”