US to Reinstate Tariffs on 100 Countries Aug 1

U.S. Treasury Secretary Scott Bessent announced that tariffs originally imposed by President Trump in April will be reinstated on August 1 for approximately 100 countries that have not reached new trade agreements with the U.S. by the July 9 deadline. The reinstated tariffs include a 10% baseline rate, with some nations potentially facing higher rates. The tariffs had been temporarily suspended for 90 days to facilitate negotiations. Agreements have been reached with the United Kingdom, Vietnam, and China, the latter agreeing to temporarily lower tariffs on U.S. goods. Most other countries remain in negotiations or have not engaged, and the administration plans to notify affected countries by letter before August 1. Bessent emphasized the approach is to apply 'maximum pressure' rather than relying on threats, and further trade deal announcements are expected soon.