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International Business Times
International Business Times
World

US Tariffs To Kick In Aug 1 Barring Trade Deals: Treasury Secretary

Scott Bessent United States Donald Trump European Union Washington D.C. the European Union CNN Taiwan
US Treasury Secretary Scott Bessent said new tariff rates will come into force by August 1 (Credit: AFP)

US 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 had 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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