Commerce Secretary Howard Lutnick expressed confidence Sunday that the Trump administration will cut trade deals with key U.S. trading partners in the coming weeks — before steep tariffs kick in for dozens of countries.

Major U.S. corporations and trading partners are scrambling to adapt to a new global economy, even as President Donald Trump mulls the imposition of historic tariffs in less than two weeks.

For many countries, the reprieve from President Donald Trump’s eye-watering global tariffs, which were first announced on April 2 and temporarily reduced to 10% a week later, is soon set to come to an end.

President Donald Trump’s deadline for tariffs was postponed twice. It is now Aug. 1, but Bessent claimed the deadline is not the most important part.

President Donald Trump is expected to travel to Scotland in his 27th week back in the Oval Office, as well as continue ironing out trade deals ahead of the Aug 1 deadline.

Wall Street stocks gained ground on Monday, while Treasury yields softened at the top of a busy week of corporate earnings reports, as tariff negotiations between the U.S. and its trading partners ramped up in the face of a fast-approaching August 1 deadline.

The president’s supporters portray him as a top dealmaker. But, at least for now, far more trading partners have gotten stiff tariffs than trade deals.

Back-to-school shopping is starting earlier than ever as families try to get ahead of rising prices driven by tariffs and inflation.

White House National Economic Council director Kevin Hassett said Sunday that "rough outlines of the deals are becoming clear" ahead of a key tariff deadline this week.

The Treasury secretary and Commerce Sec. Howard Lutnick both seem to view Aug. 1’s steep tariffs as added leverage in talks that will continue past that date.