Source: Politico
“Tariffs will revert back to their April 2 rates on Aug. 1 for [American buyers of goods from] countries that fail to nail down new trade deals with the United States, Treasury Secretary Scott Bessent said Sunday, just three days before the Trump administration’s initial July 9 deadline for tariffs to return. … The announcement effectively pushes back the tariffs that were originally set in April but had been suspended until July 9, a window the Trump administration used to pursue an ambitious round of dealmaking with other countries aimed at reaching deals to stave off the return of tariffs of between 10 and 50 percent on [American buyers of goods from] dozens of countries. It comes as Trump administration officials increasingly hint at difficulties in nailing down deals.” (07/06/25)
https://www.politico.com/news/2025/07/06/bessent-trump-tariffs-deadline-august-00440522