Bessent Promises ‘Several’ Trade Announcements Over ‘The Next 48 Hours’

Treasury Secretary Scott Bessent promised on Monday that the Trump administration would make “several announcements in the next 48 hours” regarding President Donald Trump’s trade agenda.

Bessent said during an interview with CNBC’s “Squawk Box” that the president is actively “trying to get everyone across the finish line” on agreements. Bessent’s comments come hours after Commerce Secretary Howard Lutnick, in an interview alongside Trump on Sunday, said that tariffs will take effect on August 1, pushing back the plan for Trump’s “Liberation Day” tariffs to hit countries around the world on July 9 after a 90-day reprieve.

“What President Trump is concerned about is the quality of the deals, not the quantity,” Bessent said.

“My mailbox was full last night with a lot of new offers, a lot of new proposals,” he added. “So it’s going to be a busy couple of days. But importantly, too, President Trump has said that the countries would not go back to the recipricol [tariff] rate until August 1.”

.@SecScottBessent on trade negotiations: "We are going to have several announcements in the next 48 hours… What President Trump is concerned about is the quality of the deals, not the quantity… It's going to be a busy couple of days." pic.twitter.com/xBWFDoaP7l

— Rapid Response 47 (@RapidResponse47) July 7, 2025

The Treasury Secretary told CNN on Sunday that Trump plans to send letters to countries, warning them to “move things along” or tariffs will “boomerang back to your April 2 tariff level.”

“So I think we’re going to see a lot of deals very quickly,” Bessent added.

Trump is also ramping up pressure on countries that align with “anti-American” trade policies of the BRICS nations, which include Brazil, Russia, India, and China. Ten countries have recently become “partner states” with BRICS, which could potentially lead to their inclusion as member nations. The 10 “partner states” include Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Vietnam, Uganda, and Uzbekistan.

“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff,” Trump posted on Truth Social as the BRICS nations met in Rio de Janeiro. “There will be no exceptions to this policy. Thank you for your attention to this matter!”

The stock market is down on Monday amid President Trump’s renewed push for trade. The Dow Jones Industrial Average futures dropped 70 points Monday morning, the S&P 500 futures fell 0.3%, and the Nasdaq 100 futures were down 0.5%.