Reported about 9 hours ago
Treasury Secretary Scott Bessent announced that tariffs could revert to previous levels if no deals are reached by August 1, as the Trump administration resumes communication with around 100 countries regarding trade agreements. President Trump confirmed that letters outlining tariff rates will be sent out by July 9, emphasizing the need for countries to negotiate to avoid higher duty rates. Despite concerns from economists about rising costs to consumers due to trade tariffs, Trump and his administration continue to assert that the costs will primarily fall on trading partners.
Source: YAHOO