US Nears Aug.1 Tariff Deadline Without Trade Deals Across Multiple Partners

President Donald Trump is escalating trade tensions with significant tariff increases set to take effect on August 1 against key partners including Canada, India, Taiwan, and Switzerland, citing various grievances such as cooperation on fentanyl flow and trade deficits. Despite earlier rapid trade deals with the UK, EU, Japan, and others, only six agreements have been reached so far, leaving major partners like Mexico, Canada, and India facing steep tariffs if no deals finalize. Taiwan's President Lai Ching-te emphasized that the 20% tariff rate was never the island's target in ongoing negotiations, which have yet to conclude. Switzerland and the US have yet to agree on a customs policy declaration, with the situation unresolved as the negotiation deadline approaches. Experts note that the average effective tariff rate in the US could rise to the highest level since 1934 if no further deals or delays occur, with some tariffs anticipated to reach as high as 50%. This aggressive tariff strategy reflects Trump's intent to pressure countries into more favorable trade terms, though it risks backlash given the interdependence in supply chains, such as Taiwan's critical role in microchip production for US industries.