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 EU is aiming for a July 9 deal, which would include a 10 percent baseline tariff. Trump has threatened to impose 50 percent tariffs if no deal is reached.

Products flow in and products flow out of the country - that's the nature of trade in an increasingly globalized world. But U.S. President Trump is seeking to tip the financial scales of that business in favor of the United States.