 "President Donald Trump delivers remarks as he hosts a \"One, Big, Beautiful\" event in the East Room of the White House on June 26, 2025 in Washington, DC. Image- AFP")
Treasury Secretary Scott Bessent said on Sunday that US tariffs will take effect on 1 August as trade partners like Taiwan, India, and the European Union have not yet reached agreements with Washington.
He explained that the tariff rates would return to the high levels President Donald Trump announced on 2 April, before he paused them to allow time for negotiations and set a 9 July deadline for deals.
Bessent confirmed Trump’s earlier comments to reporters aboard Air Force One on Friday, where Trump said, “Well, I’ll probably start them on 1 August. Well, that’s pretty early. Right?”
The president said he had signed 12 letters to inform countries of the increased rates, likely to be sent out on Monday.
The tariffs were part of a broader announcement in April where Trump imposed a 10 per cent duty on goods from almost all trading partners, with a plan to increase these rates for a select group within days.
But he swiftly paused the hikes until 9 July, allowing trade talks to take place.
US President Donald Trump on Sunday spoke about the upcoming, much-anticipated trade deals between the United States and other countries, including India, as the deadline for tariff relief approaches on 9 July.
He said that letters related to these trade agreements would start going out on Monday.
The United States is close to wrapping up several trade deals and will inform other countries about higher tariffs by 9 July, Trump said. The new tariff rates are set to take effect on 1 August.
Impact Shorts
More Shorts“We are going to be sending letters out on Monday about the trade deals. It could be as many as 15 or so,” Trump said. “They will be going out on Monday, and some on Tuesday and Wednesday. We have made deals too, so there’s going to be a combination of letters and already completed agreements.”
His comments come just before the 9 July deadline, which ends a 90-day pause on tariffs from Trump’s earlier policies. After that date, an extra 26 per cent import duty could be added to goods coming into the US from countries like India.
The Trump administration is increasing pressure on trade partners to make deals quickly before Wednesday. Starting Monday, the US plans to send official letters warning that higher tariffs could begin on 1 August.
Standing next to Trump, Commerce Secretary Howard Lutnick said, “The president is in the middle of discussing many deals with different countries.” He confirmed that if no agreements are reached, the new tariffs will start on 1 August.