US President Donald Trump has announced that new tariffs will now begin on August 1, instead of the earlier date of July 9. This gives other countries more time to finish trade talks with the United States.
Speaking to reporters on July 6, Trump said he expects most trade deals to be finished by July 9. Countries that don’t make deals by then may receive official letters telling them that higher tariffs are coming. These letters will begin going out on July 7, with some arriving as soon as the next day.
“We’ll have a mix of letters and deals,” Trump said before leaving New Jersey to return to Washington. He didn’t say which countries would get a deal or a warning letter.
Commerce Secretary Howard Lutnick confirmed the new August 1 deadline. He said this gives other countries one last chance to talk and make agreements before the full tariffs begin.
Earlier this year, Trump announced a 10% base tariff on many trading partners, with the chance that some tariffs could go up to 50%. The 10% rate was still set to begin on July 9, but now the higher rates are delayed until August 1.
Lutnick also said that Trump is already choosing the final tariff rates and is working on final trade deals, with many close to being signed.
So far, the United States has already made trade agreements with countries like the United Kingdom and Vietnam. The US has also lowered some tariffs on Chinese goods as a friendly step in ongoing talks.
Even though full details of the new tariffs haven’t been shared yet, this move shows Trump’s focus on changing trade rules to help American businesses and cut the trade deficit.
The next few weeks will be very important as countries rush to make final deals and avoid bigger tariffs starting on August 1.
