Mr. Bescent said countries without a deal would face tariffs from August 1 but denied that date was a "new deadline"

July 7 - For countries that have not reached a trade deal with the Trump administration, tariffs announced in April this year will come back into effect on August 1, U.S. Treasury Secretary Vincent Bescent said Sunday. < b > "President Trump is going to send a letter to some of our trading partners saying that if you don't act, then on August 1, your tariffs will go back to the levels they were on April 2," Bescent said. < b > On August 1, countries that have not reached a deal will "receive a letter," he said. Bescent rejected the idea of August 1 being another new tariff deadline, but the August date could still give trading partners more time to renegotiate tariff rates. "What we're saying is, when it happens, if you want to speed it up, get started, and if you want to go back to the original tax rate, that's your choice," said Mr. Bessant. In April, Mr. Trump announced a 90-day moratorium on steep tariffs on most major trading partners, which expires on Wednesday.