U.S. Treasury Secretary Scott Bessent has warned countries that have yet to finalize trade deals with the U.S. that they will face the original tariff rates announced in April once the 90-day pause on tariffs expires July 8.

Bessent issued the warning Thursday in an interview with CNBC, saying many countries are waiting until the last minute, thinking they can get the best deal, but that they should be careful because their rates could boomerang back to the April 2 levels.  

Asked about the possibility of extending the deadline, Bessent said he is not going to publicly announce an extension when countries should work to conclude deals ahead of the deadline.

In another interview, Bessent said on Bloomberg Television that about 100 countries are likely to face the minimum reciprocal tariff rate of ten percent after the July 9 deadline, expressing hope that a flurry of trade deals will be announced before that time. 

Ten percent is the lowest rate for any of the country-specific reciprocal tariffs the U.S. announced in April.