US tariffs to kick in from August 1 as Trump says America nears trade deals

In April, Trump had announced a base tariff of 10% on most of America’s trading partners and thereafter additional duties ranging up to 50%.

By: Express Web Desk

Updated: July 7, 2025 08:12 AM IST

3 min read

President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, in Washington. (AP Photo)

The United States is close to finalising several trade agreements with its trading partners in the coming days, and will inform other countries of higher tariff rates by July 9, which are scheduled to take effect on August 1, President Donald Trump said on Sunday, Reuters reported.

Trump administration officials had previously flagged August 1 as the date for higher tariffs to take effect, but they did not confirm whether all tariffs would increase on that date. Commerce Secretary Howard Lutnick, when asked to clarify the timeline, said the increased tariffs would come into effect on August 1. He noted that President Trump was “setting the rates and the deals right now.”

In April, Trump had announced a base tariff of 10% on most of America’s trading partners and thereafter additional duties ranging up to 50%. However, due to a global financial commotion over the newly announced tariffs, the US president had later delayed the effective date for all but 10% until July 9. The new date of August 1 for higher tariffs to take effect offers countries a three-week reprieve.

Also Read | ‘Going to see a lot of deals’: Ahead of deadline, Trump aide says US nearing multiple trade agreements

Trump earlier said that he has signed 12 letters to be sent out likely on Monday. He has repeatedly said that he plans to inform countries of a hike in US tariff rates by sending them letters.

Trump, aboard Air Force One on July 4, had said sending notices would be much easier than “sitting down and working 15 different things…this is what you have to pay, if you want to do business with the United States.”

The United States has so far announced trade deals with the United Kingdom and Vietnam, and the Trump administration has also agreed to temporarily lower high tariffs on Chinese products, with China reciprocating.

US Treasury Secretary Scott Bessent told CNN, “President Trump’s going to be sending letters to some of our trading partners saying that if you don’t move things along, then on August 1 you will boomerang back to your April 2 tariff level. So I think we’re going to see a lot of deals very quickly.”

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