US Edition
Tariffs return to April rates on August 1 without deals, Bessent says
- President Donald Trump signed 12 letters to roughly 100 trading partners, warning of tariffs reinstatement on August 1 if no new deals are reached, with letters due Monday.
- In April, the Trump administration paused tariffs until July 9 to allow negotiations, but the July 9 deadline has now expired, prompting renewed pressure on trade talks.
- Ahead of Monday, the administration dispatches letters within 72 hours, offering partners the choice to negotiate or face tariffs reverting to April 2 levels, as officials remain very busy.
- Early negotiations led to deals with the UK and Vietnam, while EU talks continue amid hopes from France's finance minister, as Trump prepares to enforce tariffs on August 1.
- BRICS leaders criticized US tariffs as 'illegal' and could harm global trade, with a legal challenge scheduled for July 31 under the International Emergency Economic Powers Act.
150 Articles
150 Articles
Morning Bid: Chagrin as Trump plays three-card trick on trade
(Reuters) -A look at the day ahead in European and global markets from Wayne Cole. Well, that’s as clear as mud. Apparently August 1 is now the U.S. deadline for when higher tariffs will be imposed on some countries if no trade deals are done, or under way. It’s not really certain which countries that covers, or which deals. “President Trump’s going to be sending letters to some of our trading partners saying that, if you don’t move things along…
The rates will return to the levels of 2 April if the countries or blocks do not have finalised agreements until 1 August. The strategy is "applicate maximum pressure" to finalise commercial agreements.
Treasury Secretary Bessent Announces August 1 Deadline for Trade Deals - News Addicts
Treasury Secretary Scott Bessent made it clear Sunday: if countries don’t strike fair trade deals by August 1, the U.S. will restore the original Trump tariff levels from April 2. “What’s great about having President Trump on our side is he’s created maximum leverage,” Bessent told Fox News Sunday host Shannon Bream. Bessent explained that […] The post Treasury Secretary Bessent Announces August 1 Deadline for Trade Deals appeared first on News …
Trump administration's tariffs delayed until August 1
The United States is close to finalising several trade agreements in the coming days and will notify other countries of higher tariff rates by July 9, US President Donald Trump says, with the higher rates scheduled to take effect on August 1.
Tariffs will revert to April 2 rates if trade deals aren't reached by Aug. 1: Bessent
President Donald Trump and Treasury Secretary Scott Bessent both said that letters will be sent to countries the week of Monday, July 7, ahead of the end of the administration's 90-day tariff pause. Bessent, during an appearance on CNN's "State of the Union" on Sunday, July 6, said the letters to the United States' trade partners will say that " if you don't move things along, then on Aug. 1, you will boomerang back to your April 2 tariff level.…
Coverage Details
Bias Distribution
- 48% of the sources are Center
To view factuality data please Upgrade to Premium
