For many countries, the reprieve from President Donald Trump’s eye-watering global tariffs, which were first announced on April 2 and temporarily reduced to 10% a week later, is soon set to come to an end.

Swiss officials approved the draft of a framework trade deal with the US almost two weeks ago, and are continuing talks while awaiting sign off from President Donald Trump, according to the government.

The European Union is racing to clinch an agreement with the Americans before tariffs kick in on Aug. 1, even as President Trump has signaled he is in no rush.