Treasury Secretary Scott Bessent warned Monday that countries negotiating trade deals with the United States could still face steep tariff hikes on July 9, even if talks are ongoing.Speaking to Bloomberg Television,

Key Takeaways President Donald Trump's 90-day pause on the "Liberation Day" tariffs expires on July 9.When the deadline passes, the U.S. could re-impose "reciprocal" tariffs on numerous countries, which would be a major drag on the economy.

President Donald Trump said he doesn’t think he’ll need to extend the July 9 trade deadline he has imposed on countries to secure deals with the US to avoid higher tariffs.