00:00The clock is ticking on a major tariff deadline. The 90-day tariff grace period ends July 9th for most countries. That's this Wednesday.
00:09The deadline seemingly has some wiggle room, but if deals aren't locked in fast, some countries could see tariffs soar as high as 70%.
00:16President Trump told reporters late Friday that he was notifying 10 to 12 nations a day over the course of the next five days, detailing their new tariff rates via letters.
00:26In most cases, the new rates will go into effect August 1st. Trump said they'll range in value from 10% to as high as 60% or 70%.
00:35So far, the U.S. has announced two deals with the U.K. and Vietnam, plus a framework for China. Everyone else, well, they're about to get the bill.
00:44Meanwhile, in a Truth Social post late Sunday, he also threatened any countries aligning with the, quote,
00:49anti-American policies of the BRICS group of countries with an extra 10% tariff.
00:54BRICS stands for Brazil, Russia, India, China, and South Africa, but includes more countries as well.
01:01With just two days to go, the pressure is sky high.
01:04Treasury Secretary Scott Besson told CNN the plan was to apply maximum pressure.
01:10That's your daily briefing from the New York Stock Exchange.
