Trump Extends Tariff Deadline To August 1

WASHINGTON, D.C. (IANS)-  President Donald Trump’s country-specific tariffs, previously set to take effect from July 9, have been postponed to August 1. This temporary reprieve comes as trade negotiations with several nations, including India, have intensified.

Commerce Secretary Howard Lutnick announced the tariff delay on July 6, stating that President Trump was “setting the rates and the deals right now.”

Trump indicated that he expected “most countries wrapped up by July 9, either through letters or finalized agreements.” He added that notification letters warning of upcoming tariff hikes would begin to be dispatched from July 7, with further letters expected on July 8. Trump explained that sending notices would be a more straightforward approach 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.”

In April, Trump had announced a base tariff of 10 percent on most of America’s trading partners, with additional duties potentially rising up to 50 percent.

The US has so far announced trade deals with the United Kingdom and Vietnam, with more agreements reportedly in progress. 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.”

Meanwhile, a high-level Indian delegation, led by chief negotiator Rajesh Agrawal, has returned from Washington without reaching a final agreement on the sensitive issue of trade in agricultural and dairy products, which the US is advocating for.

Additionally, Trump has announced that an extra 10 percent tariff will be imposed on countries that “align themselves with the anti-American policies of BRICS.”