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New US tariff rates to kick in Aug 1 barring trade deals: Treasury Secretary

World News

06-07-2025 | 10:10

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New US tariff rates to kick in Aug 1 barring trade deals: Treasury Secretary

U.S. tariffs will kick in on August 1 if trading partners from Taiwan to the European Union do not strike deals with Washington, Treasury Secretary Scott Bessent said Sunday.

The rates will "boomerang back" to the sometimes very high levels, which President Donald Trump announced on April 2, before he suspended the levies to allow for trade talks and set a July 9 deadline for agreement, Bessent told CNN.

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