US Treasury Secretary: "Trade Agreements to Be Announced Within 48 Hours"... Pressure Letters to Be Sent

Warning of Tariffs Starting August 1
Increasing Pressure for Trade Agreement

On July 7 (local time), U.S. Treasury Secretary Scott Besant stated, "Several trade agreements will be announced within the next 48 hours."

In an interview with CNBC that day, he said, "Many countries have changed their positions on trade negotiations, and last night my email account was filled with new proposals," adding, "We will be very busy for the next few days."

The 48-hour deadline coincides with July 9, the deadline for the 'reciprocal tariff' suspension previously announced by the United States. President Donald Trump has also recently stated that negotiations with several countries are expected to be concluded before the suspension deadline.

President Trump has announced that starting at noon on July 7 (U.S. Eastern Time, 1:00 a.m. on July 8 Korea Standard Time), he will send letters to trade partners specifying tariff rates. This move is interpreted as the United States unilaterally notifying its set tariff rates, thereby pressuring counterparties for concessions and swift agreements.

Secretary Besant explained about the letter, "It expresses gratitude for wanting to trade with the United States and welcomes them," adding, "However, if they choose not to enter into negotiations, the tariff rates specified in the letter will await them."

This letter is linked to the U.S. plan to implement new tariffs starting August 1, as previously announced. In effect, it serves as the last opportunity for trade partners to enter into negotiations.