President Donald Trump and his administration are racing to get trade deals done ahead of a self-imposed deadline, at which point tariffs are set to rise for dozens of countries across the world.

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.

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.