US Treasury Secretary Scott Besant spoke to reporters at US Capital as Republican MPs struggled to pass the widespread spending of US President Donald Trump and the tax bill on Capital Hill on Washington, DC, US, 27 June 27 June, 2025.
Elizabeth Frontz | Roots
Treasury Secretary Scott Besant On Sunday said that Tariff On August 1 will be effective for the countries declared back in April who have not compromised with the President Donald Trump’s Administration.
“President Trump is going to send letters to some of our business partners, saying that if you do not proceed with things, on August 1, you will return to your 2 April tariff level,” CNN’s “State of the Union”.
On August 1, countries will get a letter saying that if we have not reached any agreement, you will return to the April 2 level, “he said.
Besent dismissed the idea that August 1 is still another new tariff deadline, but the date of August may still give business partners more time to re -organize tariff rates.
“We are saying that this is when it is happening, if you want to speed up things, it is on it, if you want to go back to the old rate, it is your choice,” said Besant.
In April, Trump announces a 90-day stop on the tariffs with him Unveiled only days First on the most prominent trading partners. This 90-day stoppage is about to end on Wednesday, it is a matter of concern between investors and America. trading partners,
The White House did not immediately respond to the CNBC’s request for CNBC’s comment.
Besant’s comments came after Trump last week, which the administration said that the administration will almost send A dozen letters On Monday, informing business partners to inform the effective August 1 of their tariff rates.
Trump told reporters on Friday, “They will start paying on August 1. This money will start coming to the United States on 1 August.”
Bessent suggested that new business deals could be announced soon.
“I would expect to look at many big announcements in the next few days,” he said, when asked whether the administration is close to any deal before Wednesday.
