Treasury Secretary Scott Bessent on Monday stated the Trump administration will make “a number of” trade-related bulletins within the subsequent 48 hours, signaling imminent progress at the same time as U.S. tariff deadlines look like shifting.
Talking on CNBC’s “Squawk Box,” Bessent additionally declined, but once more, to rule out the chance that he may function the subsequent chair of the U.S. Federal Reserve, if President Donald Trump asks him to.
Bessent stated overseas commerce officers are dashing to make offers with the US earlier than July 9, when excessive tariff charges on dozens of nations’ items are set to snap again into impact.
“We have had lots of people change their tune by way of negotiations,” he stated. “So my, my mailbox was full final night time with a variety of new presents, a variety of new proposals.”
“It is going to be a busy couple of days,” he added.
However Bessent additionally repeated the administration’s new line, rolled out over the vacation weekend, that country-specific tariff charges won’t be collected till Aug. 1.
His remarks got here sooner or later after Trump stated his administration may ship as many as 15 letters to U.S. commerce companions between Monday and Wednesday, dictating new tariff charges that might be imposed on their exports to the US.
Trump additionally stated “some offers have been made,” suggesting the administration may unveil a mixture of bilateral commerce agreements and unilateral tariff letters this week.
Bessent stated on CNBC that the letters could be “fairly customary.”
“It is simply, ‘Thanks for desirous to commerce with the US of America. We welcome you as a buying and selling accomplice. And this is the speed, except you wish to come again and attempt to negotiate,'” Bessent stated.
On Sunday night time, Trump stated in a Reality Social post that tariff “Letters, and/or Offers,” shall be despatched out beginning Monday at midday ET.
Earlier within the day Sunday, Trump gave a imprecise reply when he was requested if U.S. tariff charges shall be altering on Wednesday, or not till Aug. 1.
“They will be tariffs. The tariffs are going to be the tariffs. I believe we’ll have most international locations achieved by July 9. Both a letter or a deal,” Trump said earlier than returning to Washington, D.C., from New Jersey.
Commerce Secretary Howard Lutnick, who was standing subsequent to Trump on an airport taxiway, added, “However they go into impact on Aug. 1 … the president is setting the charges and the offers proper now.”
The White Home didn’t reply to a number of requests from CNBC for extra readability on the commerce timeline.
Bessent was additionally requested once more Monday in regards to the chance that he may succeed Federal Reserve Chair Jerome Powell, whose time period ends subsequent Could.
“I’ll do what the President needs,” Bessent stated. “However I believe that we’re making nice good points right here at Treasury, we have had a busy 5, six months out of the field, and we have quite a bit to do.”