On Wednesday, U.S. President Donald Trump said he would send messages to major economies to outline the planned trade tariffs in the coming weeks, ahead of the July 9 deadline to finalize trade agreements with his administration.

"At a certain point, we will send messages saying 'this is the deal', you can accept it or reject it," Trump told reporters at the Kennedy Center.

"We will send messages in about a week to a week and a half to inform them of what the deal is."

Trump mentioned that talks are ongoing with Japan, South Korea, and about 15 other countries.