WASHINGTON (Reuters) -The United States will make several trade announcements in the next 48 hours, Treasury Secretary Scott Bessent said on Monday, ahead of a U.S. deadline on Wednesday to finalize trade pacts.

President Donald Trump confirmed that the U.S. would start sending out tariff notices from 12:00 pm ET on Monday. However, these notices are not expected to be firm demands.

Major US trading partners hurried over the weekend to secure trade deals or lobby for extra time, while Treasury Secretary Scott Bessent indicated that some countries lacking an agreement by the deadline Wednesday will have the option of a three-week extension to negotiate.

Steep tariff rates are set to go back into effect after a 90-day pause on the April 2 rates that rocked the stock market.

Tariffs are set to return to President Donald Trump's original April levels without new trade deals by August 1, Treasury Secretary Bessent said Sunday.