Deadline for Trump Tariffs: Establishment and Implementation of Duties Timeline
In a recent development, US President Donald Trump has extended the deadline for his 'Liberation Day' tariffs from July 9 to August 1. The tariffs, initially imposed on almost all countries except for the UK, China, and Vietnam, have been on a global 10% rate during the 90-day pause.
During this pause, Trump has made individual deals with the UK, China, and Vietnam. He has also indicated that countries will receive letters or deals this week. Trump has expressed optimism that most countries will either have a letter or a deal by July 9.
However, Trump has warned that there will be no exceptions to the policy of charging an additional 10% tariff for countries aligning with the anti-American policies of BRICS. This international organization consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates. Any country aligning with these policies will be charged an additional 10% tariff, according to Trump.
If a country joins the BRICS alliance and adopts anti-American policies, the 10% tariff will be increased to 20%. While the specific countries affected are not explicitly listed, it is implied that this could impact BRICS member countries such as Brazil, Russia, India, China, and South Africa if they align with such policies.
The president will set the rates and the deals for the tariffs taking effect on August 1, according to Lutnick. The deadline for negotiations remains July 9, as stated by US commerce secretary Howard Lutnick. The trade talks have been ongoing since the pause was implemented, and it remains to be seen how the negotiations will unfold in the coming weeks.
The tariffs on individual countries will take effect after the 90-day pause, with the new date yet to be announced. The US administration will continue to monitor the situation closely and make decisions based on the best interests of the American people.
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