Trump administration faces pressure to clinch more trade deals, with a temporary tariff freeze on dozens of countries set to expire.

President Donald Trump's second term economic plan can be summed up in one word: tariffs. As his barrage of import taxes went into overdrive in recent months, markets trembled and business leaders sounded alarms about the economic damage they would cause.

With just five days remaining in the tariff moratorium, the White House is expected to begin delivering a message to a dozen or so countries: Time is up, and here’s your new rate.

After striking only a few trade deals since declaring a 90-day pause in April, President Trump said he would announce new duties starting Friday.

The US government is to start sending out letters to countries with details of higher US tariff rates that will begin on 1 August, President Donald Trump has said. Between 10 to 12 letters will go out on Friday,