After a series of pauses and extensions, the “Liberation Day” country-specific tariffs unveiled in April are set to snap back into force in seven days, delaying a 1 August deadline. Aside from a few countries who negotiated deals, many nations will see US levies revert to their original rates.
The Liberation Day tariffs were announced on 2 April, after President Trump branded the US trade deficit a national emergency. Far more goods were flowing into the country than American products were being sold abroad.
