Trump tariff deadline: When rates will be set and implemented

The date for US president Donald Trump’s ‘Liberation Day’ tariffs to take effect after the 90-day pause has been extended from later this week (9 July) to 1 August, but the 9 July date apparently still stands as a deadline for negotiations, according to the US commerce secretary.

Howard Lutnick, Trump’s commerce secretary, said: “Tariffs go into effect August 1, but the president is setting the rates and the deals right now.”

Trump said: “I think we’re going to have most countries done by July 9, either a letter or a deal.”

Trump has said that countries will receive letters or deals this week, while making a threat of an additional 10% tariff for any country aligned with BRICS, the international organisation consisting of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates.

The tariffs on individual countries, which were originally announced on 2 April, were paused for 90 days to allow nations to try to come to a deal with the US, and trade talks have been ongoing since. During the pause, the US president imposed a global 10% tariff on almost all countries, with exceptions in the likes of the UK, China and Vietnam, all of which Trump has made individual deals with.

On social media, Trump said: “Any country aligning themselves with the anti-American policies of BRICS will be charged an additional 10% tariff. There will be no exceptions to this policy.”

We will update this story as more information becomes available…