US Edition
Tariffs return to April rates on August 1 without deals, Bessent says
UNITED STATES, JUL 7 – President Trump has signed letters notifying about tariffs on goods from 100 countries set for August 1 if trade deals are not finalized by the July 9 deadline, Treasury Secretary said.
- U.S. Treasury Secretary Scott Bessent confirmed on August 1 that tariffs will resume at April 2 rates on that day if no new trade deals are reached.
- The tariff resumption follows a 90-day pause that expired on July 9, which gave trading partners more time to negotiate after initial April tariff announcements.
- EU-US trade talks continued through the weekend with the EU facing tariffs potentially soaring to 50% on goods like French cheese and German electronics if no agreement is struck.
- Bessent stated that the administration is employing "maximum pressure," anticipates several major announcements soon, and emphasized that returning to previous rates is entirely up to those involved.
- The tariff deadline and continued negotiations suggest ongoing economic uncertainty, while the U.S. plans to send letters warning partners of returning high duties unless deals finalize.
158 Articles
158 Articles
Mexico City.- On April 2, Donald Trump imposed a 10% base tariff on all imports arriving in the US, plus surcharges of between 10% and 104% on 57 countries with which his country maintains a trade deficit. Days later, on April 9, he announced a 90-day truce so that the affected countries could negotiate agreements and avoid or reduce tariffs. Tomorrow he would overcome that truce, but last weekend the Treasury Secretary, Bessent, and the Trade S…
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President Donald Trump hasn't been able to sign trade deals at the rate the White House once hoped for during a 90-day tariff pause.Joe Raedle/Getty ImagesThe White House is delaying tariffs ahead of the end of the 90-day pause deadline.Treasury Secretary Scott Bessent said the April 2 tariffs would now go into effect on August 1.The April tariff levels were scheduled to kick back in on August 9.President Donald Trump was nowhere near the pace o…
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