The Trump administration is pressuring trading partners to finalize new deals before a deadline, with letters warning of higher tariffs starting August 1st. This creates uncertainty for businesses and partners. Officials suggest flexibility on deadlines, with the President making the final decision.
Steeper tariffs announced in April threatened global trade, but were temporarily suspended. Deals have only been announced with the UK and Vietnam. Elevated tariffs are in place on many nations, with a 10% baseline on all imports.
Trump stated letters outlining tariff rates would be sent, with collection starting August 1st. The administration hasn't revealed which countries will receive them.
Treasury Secretary Bessent anticipates deal announcements soon. Trump also vowed more tariffs on BRICS nations. A deal with Vietnam allows U.S. goods duty-free entry, with a 20% levy on Vietnamese exports.
Letters are favored for many countries. Canada will not receive a letter, with trade talks ongoing.
7 Comments
dedus mopedus
I'd like to see the numbers! How did these early deals really perform? They will probably be another failure
ytkonos
Finally! Putting American interests FIRST. Let the negotiating begin!
Bermudez
Bessent's word won't be reliable. He is probably misleading from his boss, who doesn't care
Africa
This is a political tactic for show. He is only focused on a photo op, without regard for the long run.
Comandante
Strong leadership! We need to get tough on these unfair trade practices, the USA is being taken advantage of
Donatello
This is about time; about leveling the playing field. If they can't play fair, they don't get our trade.
KittyKat
The goal is to create good deals for America. Let's see how these negotiations play out.