U.S. President Donald Trump has postponed the implementation of country-specific tariffs to August 1 to allow time for continued trade negotiations with several countries, including India.
Originally set for July 9, the tariffs have been delayed, as announced by Commerce Secretary Howard Lutnick. He stated that President Trump is currently establishing the rates and securing agreements regarding the tariffs, aimed at various nations.
President Trump expressed optimism about the negotiations, suggesting that he expects deals with most countries to be concluded by July 9. The process involves sending notification letters to trading partners about potential tariff hikes, slated to begin on Monday and continue into Tuesday. Trump emphasized the straightforwardness of the current approach, likening it to an ultimatum of sorts: to conduct business with the United States, countries must comply with specific tariff demands.
President Trump initially proposed a base tariff of 10 percent in April, with some tariffs potentially increasing to 50 percent, affecting multiple U.S. trading partners. To date, finalized trade agreements have been reached with the United Kingdom and Vietnam, with additional negotiations reported as ongoing.
U.S. Treasury Secretary Scott Bessent highlighted the urgency, indicating President Trump’s strategy to prompt swift resolutions. Bessent mentioned that letters would be sent to some trading partners, warning that failure to advance negotiations would result in tariffs reverting to April 2 levels by August 1. He anticipates this tactic will expedite the finalization of several trade agreements.
An Indian delegation, led by chief negotiator Rajesh Agrawal, has recently returned from talks in Washington. Despite extensive discussions, the U.S. and India have yet to finalize a comprehensive agreement. One of the major sticking points remains the U.S. demands concerning agricultural and dairy products.
In a broader context, President Trump announced an additional 10 percent tariff on countries that align themselves with BRICS anti-American policies, a move likely to impact several nations’ trade strategies with the United States.
According to IANS, these developments add pressure on U.S. trade partners to reach agreements that align with the new American trade policies.