The United States is close to finalizing several trade agreements in the coming days and will notify other countries of higher tariff rates by July 9, U.S. President Donald Trump said on Sunday, with the higher rates scheduled to take effect on August 1.

America is close to clinching several trade deals ahead of a July 9 deadline when higher tariffs were due to kick in, Treasury Secretary Scott Bessent said.

There are plans for the United States to start sending letters Monday warning countries that higher tariffs could kick in Aug. 1. That furthers the uncertainty for businesses, consumers, and America's trading partners.

Control of Congress in next year’s election could turn on how Americans view the sweeping tax- and domestic-policy package.

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