Trump has extended the global tariff deadline to August 1, allowing countries more time to finalize deals. He also warns BRICS-aligned nations of an extra 10% tariff. Here’s what this means for global trade.
Trump Extends Tariff Relief Period Until August 1
President Donald Trump has officially extended the tariff relief period for global trade partners, announcing that new higher tariff rates will now take effect on August 1, 2025, instead of the previously set July 9 deadline.
The extension grants a three-week grace period for countries still negotiating bilateral trade agreements with the United States. Trump stated that the U.S. is close to finalizing several key trade deals and that updated tariff notifications will be sent out by July 9.
Back in April, Trump unveiled a base tariff of 10% for most countries, with additional levies reaching up to 50% in some cases. Though initially scheduled to begin on July 9, the effective date was first postponed from that date and now pushed further to August 1.
In a recent media interview, U.S. Commerce Secretary Howard Lutnick confirmed that the higher tariffs would kick in on August 1, adding that President Trump is personally overseeing price setting and deal-making negotiations.
Trump also announced via his social media platform Truth Social that the U.S. will begin distributing official tariff letters starting Monday at 12:00 noon, outlining specific adjustments and conditions for various countries.
In a bold move, Trump issued a stern warning to BRICS member nations, saying that any country aligning with anti-American BRICS policies will be slapped with an additional 10% tariff, escalating economic pressure on geopolitical adversaries.
This latest development signifies Trump’s aggressive push to reshape global trade ahead of the upcoming election cycle and reflects his firm stance on “America First” economic policy, while sending a clear signal to allies and rivals alike.
