Trump's Trade Tactics: Tariffs, Deals, and Deadlines

The United States is poised to finalize multiple trade agreements shortly, with President Donald Trump announcing plans to notify countries about an increase in tariff rates by July 9. The elevated tariffs are scheduled to take effect on August 1, as previously indicated by Trump and his senior officials.

Commerce Secretary Howard Lutnick affirmed that the August 1 deadline remains intact, with President Trump actively finalizing rates and deals. Initially set at a 10% base tariff, with additional duties up to 50%, most tariffs were postponed except for the 10%, granting countries a brief extension.

U.S. Treasury Secretary Scott Bessent revealed that significant trade announcements might arrive imminently, highlighting progress with the European Union. Letters will also be dispatched to 100 smaller trading nations, informing them of impending tariff increases unless negotiations advance rapidly.

(With inputs from agencies.)