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U.S. to make 'several' trade deal announcements in next 48 hours: Bessent

Published: 08 Jul. 2025, 09:38

U.S. Treasury Secretary Scott Bessent speaks to reporters at the U.S. Capitol in Washington on June 27. [REUTERS/YONHAP]

U.S. President Donald Trump's administration will make "several" announcements on trade deals in the next 48 hours, Treasury Secretary Scott Bessent said Monday, noting that it has received many new offers and proposals in the ongoing negotiations with trading partners.

Bessent made the remarks as Trump has said his administration will send letters to a dozen or more trading partners on Monday to notify them of tariff rates — a remark that ratcheted up pressure on Korea and other countries to reach a deal with the United States as the pause on the new tariffs is set to expire Tuesday.

"We are going to have several announcements in the next 48 hours," he said in a CNBC interview. He did not elaborate further on the envisioned announcements.

"And [...] I think what President Trump is concerned about is the quality of the deals, not the quantity," he added.

On April 2, Trump unveiled reciprocal tariffs, including 25 percent duties on Korea, in a drive to address trade barriers to American exports. The tariffs took effect on April 9, but Trump paused them shortly afterward to allow time for negotiations.

The secretary noted that when Trump pointed out the possibility that countries could "boomerang" back to the reciprocal tariff levels, the United States has had "a lot of people change their tune in terms of negotiations."

"So my mailbox was full last night with a lot of new offers, a lot of new proposals. So it's going to be a busy couple of days," Bessent said.

"But importantly too, President Trump has said that the countries would not go back to the reciprocal rate until Aug. 1."

Seoul has been striving to avoid or minimize the impact of the new across-the-board tariffs as well as sector-specific tariffs on automobiles, steel and aluminum, as it has underscored its willingness to contribute to the U.S. efforts to rebuild America's manufacturing.

To step up negotiation efforts, Korea's Trade Minister Yeo Han-koo held talks with U.S. Trade Representative Jamieson Greer over the weekend. Its National Security Adviser Wi Sung-lac will also have high-level talks with Trump administration officials in Washington this week.

Yonhap