Treasury Secretary Scott Bessent announced that import tariffs will return to April levels on August 1 unless new trade agreements are reached.

Scott Bessent said that on August 1, import tariffs will return to the levels set on April 2 for countries that have not agreed new trade deals with the US. Although the original deadline was July 9, Bessent emphasized that this is not a last chance for negotiations. The Trump administration has already signed agreements with the UK and Vietnam, and talks with India are ongoing. Letters with tariff details will be sent to countries soon.