Overview

• The administration extended its pause on steeper reciprocal tariffs to August 1 to press partners for faster deal-making.
• Beginning July 7, the White House will distribute “United States Tariff Letters” detailing non-negotiable base and country-specific rates.
• President Trump threatened an extra 10 percent duty on imports from any nation he deems aligned with “Anti-American” BRICS policies.
• So far only the United Kingdom and Vietnam have reached deals to maintain or reduce their tariff rates.
• Treasury Secretary Scott Bessent said the US is close to securing several additional trade pacts and anticipates major announcements in the coming days.