The July 9 deadline has come and gone with few tangible results to resolve disputes with America’s trade partners in place. The only deals that had been completed a week before the deadline were with the United Kingdom and Vietnam, and the U.S. had negotiated a tentative truce with China in May.

As of July 9, no new deals were announced this week.

Treasury Secretary Scott Bessent previously indicated that the administration is focusing on 18 countries that account for 95 percent of the U.S. trade deficit. As for countries that will receive letters, he said in a CNN interview on Sunday that countries that fail to reach trade agreements by August 1 will “boomerang back” to April 2 levels.

President Trump subsequently announced on Monday that he will impose tariffs of 25 percent on goods from Japan and South Korea that will go into effect on Aug. 1 if a deal has not been consummated by then. Twelve other countries also received pending tariff hikes of 25-40 percent that were close to the rates announced April 2.

On Thursday, Trump threatened Canada with 35 percent tariffs and floated higher global rates of 15-20 percent.

Another batch went out on July 9, the most noteworthy being a possible 50 percent tariff on Brazil that cited a

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