U.S. President Donald Trump announced on Friday that several “big trade deals” may be finalized soon, suggesting that negotiations with major trading partners are progressing under pressure from impending tariffs.

“They could almost do it today… maybe later on. We’ll do it,” Trump said during the signing ceremony of the GENIUS Act, a new law establishing federal oversight of stablecoins. He added, “When I send out the paper that you’re paying 35% or 40% tariff, that’s a deal. Then they’ll call and try to make a better kind of deal.”

Trump recently extended the 90-day suspension of U.S. reciprocal tariffs to August 1. He warned that tariffs will take effect without further delay unless trade terms are renegotiated. His administration is currently engaged in talks with several key trade partners.

At the same event, Trump signed the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act) into law. The bipartisan legislation creates a regulatory framework for stablecoins—digital currencies pegged to the U.S. dollar or other fiat currencies.

The act empowers the Federal Reserve and the Office of the Comptroller of the Currency to oversee stablecoin issuers and mandates that issuers maintain reserves in U.S. dollars, Treasuries, or other approved assets. It also requires transparency in reserve disclosures.

Trump said the bill would revolutionize financial technology and cement the U.S. position as a global crypto leader. “Stablecoins backed by real dollars will increase demand for U.S. Treasuries, lower interest rates, and ensure the dollar remains the world’s reserve currency,” he said.

With a global market cap of $250 billion, stablecoins are already widely used for digital trading and as inflation hedges in unstable economies.