Financial markets are on edge about higher import taxes, but White House officials say they anticipate “a lot of deals very quickly.”

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.

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.