US Treasury Secretary Yellen Says Countries Without Agreements Will Face Tariffs Starting August 1 (UTC+8), But Denies This Date Is a "New Deadline"

According to a report by Jinse Finance, U.S. Treasury Secretary Besent stated on Sunday that for countries that have not reached a trade agreement with the Trump administration, the tariffs announced in April this year will be reinstated on August 1. Besent said, "President Trump will send letters to some of our trading partners, saying that if you do not take action, then on August 1, your tariffs will return to the levels of April 2." He added that on August 1, countries that have not reached an agreement will "receive a letter." Besent rejected the idea that August 1 is yet another new tariff deadline, but noted that the August date still gives trading partners more time to renegotiate tariff rates. Besent said, "What we're saying is, when things happen, if you want to speed up the process, then get started quickly. If you want to return to the original tariff rates, that's your choice." In April this year, Trump announced a 90-day suspension of high tariffs imposed on most major trading partners. The tariff suspension order will expire on Wednesday (July 9).