The United States will work to finalize several trade agreements in the coming days, and other countries will be notified of higher tariffs by July 9. This was stated on Sunday by the country's President, Donald Trump. The higher tariffs are scheduled to take effect on August 1.
Trump and other US officials have also previously mentioned August 1 as the day when new tariffs will take effect, but it has been unclear whether this applies to all of them.
US Secretary of Commerce, Howard Lutnick, was asked to elaborate on the tariff plans on Sunday. Here, he told reporters that the higher tariffs will indeed take effect on August 1, but that Trump is currently working to determine the new rates and sign trade agreements with some countries.
In April, Trump announced US import tariffs on goods from virtually all countries in the world. This applied to a 10 percent basic tariff on most countries and additional tariffs of up to 50 percent for others. However, on the same day that the tariffs came into effect, the US president chose to put several of them on hold. That hold expires on Wednesday, July 9.
The new date for the tariffs - August 1 - means that the hold is an extension of the three-week hold.
Treasury Secretary Scott Bessent said earlier Sunday in a television program on CNN that several major announcements about trade agreements could be made in the next few days. He also said, according to Reuters, that good progress has been made in the US dialogue with the EU.
- President Trump is going to send letters to some of our trading partners, saying that if you don't get things moving, on August 1 you will be sent back to the tariff level from April 2 like a boomerang. So I think we're going to see a lot of agreements very quickly, Bessent said.
/ritzau/
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