 US President Donald Trump (Photo: Reuters) |
On the same day, US Treasury Secretary Scott Bessent told CNN that the US will reinstate high tariffs on a number of countries starting in early August.
According to Bessent, President Trump will issue formal notices to several trading partners, warning that if countries fail to strike a deal with the US by August 1, the US will then revert to April 2 tariff level.
Last week, Trump said that countries will “start to pay on Aug 1. The money will start going to come into the US on Aug 1”.