Overview

• President Trump has rejected any extension of the 90-day suspension and confirmed that reciprocal duties will take effect on July 9.
• Treasury Secretary Scott Bessent said the government aims to clinch framework agreements with 15 to 18 key trading partners before the deadline.
• Vietnam has already secured a framework deal capping its surcharge at 20 percent under the reciprocal tariff regime.
• Japan faces potential levies of 30 to 35 percent after bilateral talks stalled over U.S. rice purchases and market access reforms.
• The European Union is under threat of duties up to 50 percent if it fails to reach a satisfactory framework agreement with Washington.