Treasury Secretary Scott Bessent said trade talks could yield multiple deals by Sept. 1, citing a new U.S.-China agreement on rare earth shipments.

Treasury Secretary Scott Bessent on Friday said he thinks trade negotiations could be “wrapped up” by Labor Day, providing a more relaxed framework for inking deals than the previously prescribed July 9 deadline.

President Donald Trump hardened his threat to raise tariffs on certain countries by his July 9 deadline, while Treasury Secretary Scott Bessent signaled there may be some extensions to wrap up major pacts by the Labor Day holiday.