As the August 1 deadline for new tariffs approaches, President Trump has intensified pressure on trade partners to finalize agreements. He announced that tariff letters would be sent to multiple countries starting Monday, signaling the potential for tariffs to rise significantly if deals are not reached. Treasury Secretary Bessent warned that without negotiations, tariffs could revert to April levels. While some officials have hinted at progress, Trump remains adamant about the timeline, stating that the pause on global tariffs won’t be extended beyond July 9. Amid stock market volatility, countries are racing to secure deals to avoid higher tariffs, with the threat of a trade war hanging in the balance.