NEW DELHI– U.S. President Donald Trump’s country-specific tariffs are now set to take effect on August 1, offering a brief window for ongoing trade negotiations with several nations, including India. The tariffs were previously scheduled to begin on July 9.
Commerce Secretary Howard Lutnick announced the delay on Sunday (U.S. time), stating that President Trump is “setting the rates and the deals right now.”
Trump told reporters, “I think we’ll have most countries wrapped up by July 9, either through letters or finalized agreements,” adding that notification letters warning of tariff hikes would begin going out Monday, with additional notices expected on Tuesday.
He emphasized the simplicity of the new approach: “Sending notices is much easier 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 announced a base tariff of 10 percent on most U.S. trading partners, with some duties reaching as high as 50 percent.
So far, the U.S. has finalized trade agreements with the United Kingdom and Vietnam, with additional deals reportedly in progress.
“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,” U.S. Treasury Secretary Scott Bessent told CNN.
India’s high-level delegation, led by chief negotiator Rajesh Agrawal, recently returned from Washington after holding talks with U.S. officials. However, the two sides did not reach a final agreement on key issues, particularly U.S. demands related to agricultural and dairy products.
Meanwhile, President Trump has also announced an additional 10 percent tariff on countries “aligning themselves with the anti-American policies of BRICS.” (Source: IANS)
