Trump to Reinstate High Tariffs on August 1 Without Trade Deal

# U.S. Treasury Secretary Issues Tariff Warning Ahead of August 1 Deadline In an interview on CNN's "State of the Union" this Sunday, U.S. Treasury Secretary Scott Besent alerted that countries failing to finalize trade agreements with President Donald Trump by August 1 will face the reimplementation of high tariffs. These tariffs, initially announced on April 2, will be reinstated if no progress is made, according to a June 6 report by Cryptopolitan. Besent noted that President Trump plans to send formal notices this week to about 12 trading partners. These letters, intended as a final caution, will state clearly that if agreements are not concluded by the August deadline, tariff rates will revert to the levels previously announced this year. The notices are expected to be dispatched on Monday. # August 1: A Fixed Deadline Secretary Besent stressed the importance of the August 1 date, indicating it is neither a suggestion nor a negotiable deadline. "We've explicitly set this date," he remarked, adding, "If trading partners wish to speed up negotiations, that's welcomed; if not, the existing tariff rates will apply." Besent dismissed claims that the move is merely a political tactic. In April, President Trump rolled out the updated tariff plan with a 90-day grace period to allow time for renegotiations. Besent affirmed that this grace period ends this Wednesday, with no additional extensions. # 90-Day Grace Period Nearing Conclusion: Tariffs Imminently Effective The primary goal of the grace period was to extend time for trade discussions, but that window is now closing. At a press conference on Friday, President Trump reiterated, "Tariffs will be reactivated starting August 1, and revenue will start flowing into the United States." Besent echoed this viewpoint, confirming that tariff enforcement will commence as planned unless agreements are reached. When asked about the potential for deals with specific countries, Besent hinted at imminent progress without naming nations. "We can anticipate a few major announcements in the coming days," he noted, suggesting that these announcements might surface just before Wednesday’s deadline.