Treasury secretary says countries without trade deals will see tariffs 'boomerang' to April rates by Aug. 1

[BumRushDaShow]

Source: NBC News

July 6, 2025, 1:01 PM EDT


WASHINGTON — Treasury Secretary Scott Bessent said Sunday that the U.S. will revert to steep country-by-country tariff rates at the beginning of August, weeks after the tariff rate pause is set to expire.

“President Trump’s going to be sending letters to some of our trading partners saying that if you don’t move things along, then on Aug. 1, you will boomerang back to your April 2 tariff level,” Bessent said in an interview on CNN’s “State of the Union.” “So I think we’re going to see a lot of deals very quickly.”

President Donald Trump had originally set a 90-day deadline — set to expire Wednesday — for countries to renegotiate the eye-watering tariff levels he laid out in his April 2 “Liberation Day” speech. He paused those rates a week later, while setting a new 90-day deadline to renegotiate them.

That deadline was set to expire on Wednesday. CNN host Dana Bash responded to Bessent on Sunday, saying, “There’s basically a new deadline,” prompting Bessent to push back. “It’s not a new deadline. We are saying this is when it’s happening,” Bessent said. “If you want to speed things up, have at it. If you want to go back to the old rate, that’s your choice.”

Read more: https://www.nbcnews.com/politics/trump-administration/treasury-secretary-countries-tariffs-trade-deal-august-rcna217110

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CNN host Dana Bash responded to Bessent on Sunday, saying, “There’s basically a new deadline,”

Of course there is because "It's all fake". I did see a CNBC breaking news banner this afternoon noting that the futures were down "after Trump says tariffs to go into effect Aug. 1st, not July 9".

[CousinIT]

1. It should be illegal to manipulate the stock market.

I moved my funds out of stocks back in April (maybe dumb move according to financial people), and I’m not inclined to move them back until this ass is out of office, if then (being close to retirement as I am). They earn less, but maybe they’ll lose less or none at least.

Shit.

This ass has has cost me almost $50K with his stupidity.

[bucolic_frolic]

2. This is not economic policy, this is power and control for self-centered reasons

Economic policy would set a target and remain there to achieve the objectives. This is just poop.

[BOSSHOG]

3. "That's Your Choice"

Choice. The 2025 Plan. We are not separating families. They can choose to be deported together. Nothing but evil. And hate. And racism. All in the name of patriotism.

[Attilatheblond]

4. Do international corporations appreciate bullying by insane POTUS?

Thinking he's gonna push their patience too far and they will just let the US fall into a major depression. They are entities without a country; why would piss ant Trump flunkies matter to them?

[littlemissmartypants]

5. .

[Yo_Mama_Been_Loggin]

6. I hope that boomerang hits both of them in the head

[BidenRocks]

7. Ya know what, America?

Fuck Off!
The world doesn't 'need' us!
Mob bosses can piss off!
You too bissent. In cowboy days, he would be a 'Dandy'!

[lonely bird]

8. Deal maker...

My narrow, white ass.

[mdbl]

9. NBC used the wrong title

Should say "Countries without trade deals will watch the United States screw itself even worse"

[modrepub]

10. Wake Me Up When Something Actually Happens

If I was a news site editor I’d just run a blurb saying “No trade deals yet. Check back later.”