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.

President Trump said Japan and South Korea, two of America’s closest allies, would face tariffs of 25 percent unless the countries reach some kind of trade agreement with the United States. Other countries received notice of higher levies.

This follows last-minute talks by the EU, Japan, and South Korea to strike trade deals and avoid steep US tariffs.