President Donald Trump says his administration informed Japan and South Korea Monday about new tariff charges that would kick in on Aug. 1.Trump’s prime commerce advisers say they’re placing most stress on different nations to make commerce offers with the U.S. earlier than Wednesday, when a 90-day pause on Trump’s “reciprocal tariffs” is ready to run out. Trump’s steep levies on dozens of nations have been introduced on April 2 however have been suspended quickly after. In a social media publish Sunday, Trump mentioned, “I’m happy to announce that the UNITED STATES TARIFF Letters, and/or Offers, with varied Nations from across the World, can be delivered beginning 12:00 P.M. (Jap), Monday, July seventh.” “If for any motive you determine to boost your Tariffs, then, regardless of the quantity you select to boost them by, can be added onto the 25% that we cost,” Trump wrote within the letters to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung.When requested what is going to occur Wednesday, Treasury Secretary Scott Bessent informed CNN, “We are going to see. I am not going to provide away the playbook as a result of we’ll be very busy over the following 72 hours.””President Trump goes to be sending letters to a few of our buying and selling companions, saying that, in case you do not transfer issues alongside, then, on Aug. 1, you’ll boomerang again to your April 2 tariff degree. So I feel we’ll see numerous offers in a short time,” Bessent added. Bessent denied recommendations that the administration is setting a brand new deadline. Thus far, the administration has introduced preliminary offers or frameworks with three of the handfuls of countries that would quickly be hit by steeper import taxes. They embrace Vietnam, Britain and China.In a separate warning Sunday, Trump vowed to impose a further 10% tariff towards “any Nation aligning themselves with the anti-American insurance policies of BRICS,” referring to the bloc of growing nations that condemned Trump’s tariff insurance policies at a summit Sunday. Trump’s publish didn’t point out a timeline for imposing further tariffs on member nations.
President Donald Trump says his administration informed Japan and South Korea Monday about new tariff charges that would kick in on Aug. 1.
Trump’s prime commerce advisers say they’re placing most stress on different nations to make commerce offers with the U.S. earlier than Wednesday, when a 90-day pause on Trump’s “reciprocal tariffs” is ready to run out. Trump’s steep levies on dozens of nations have been introduced on April 2 however have been suspended quickly after.
In a social media publish Sunday, Trump mentioned, “I’m happy to announce that the UNITED STATES TARIFF Letters, and/or Offers, with varied Nations from across the World, can be delivered beginning 12:00 P.M. (Jap), Monday, July seventh.”
“If for any motive you determine to boost your Tariffs, then, regardless of the quantity you select to boost them by, can be added onto the 25% that we cost,” Trump wrote within the letters to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung.
When requested what is going to occur Wednesday, Treasury Secretary Scott Bessent informed CNN, “We are going to see. I am not going to provide away the playbook as a result of we’ll be very busy over the following 72 hours.”
“President Trump goes to be sending letters to a few of our buying and selling companions, saying that, in case you do not transfer issues alongside, then, on Aug. 1, you’ll boomerang again to your April 2 tariff degree. So I feel we’ll see numerous offers in a short time,” Bessent added.
Bessent denied recommendations that the administration is setting a brand new deadline.
Thus far, the administration has introduced preliminary offers or frameworks with three of the handfuls of countries that would quickly be hit by steeper import taxes. They embrace Vietnam, Britain and China.
In a separate warning Sunday, Trump vowed to impose a further 10% tariff towards “any Nation aligning themselves with the anti-American insurance policies of BRICS,” referring to the bloc of growing nations that condemned Trump’s tariff insurance policies at a summit Sunday. Trump’s publish didn’t point out a timeline for imposing further tariffs on member nations.
