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.

The Trump administration is expected to send dozens of letters to countries that have not made a trade deal, warning them that higher tariffs could kick in next month.

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.