US EditionTariffs return to April rates on August 1 without deals, Bessent says
- On August 1, tariffs announced April 2 will resume and payments will start for countries without new trade deals with the U.S.
- This follows a 90-day pause on tariffs initially set to expire July 9, which was extended to allow more negotiation time.
- Treasury Secretary Scott Bessent denied August 1 is a new deadline and said the administration aims to apply maximum pressure while noting progress with the EU.
- Bessent expects several big announcements soon and confirmed letters will warn partners that tariffs could "boomerang back" to April 2 levels without agreements.
- The tariff resumption may keep prices high, especially on camera equipment, amid ongoing legal disputes about the administration’s tariff authority.
153 Articles
153 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 …
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