The rates will revert to the higher levels initially announced by former President Donald Trump in April, following a suspension for negotiations.
The president confirmed that letters announcing rate hikes would be sent to multiple countries, though some deals, such as those with the UK and Vietnam, have already been finalized. US Commerce Secretary Howard Lutnick emphasized that while tariffs are set to begin in August, the administration is actively negotiating terms.
Bessent dismissed inflation fears, distinguishing between temporary price adjustments and broader economic impacts. “Inflation is a generalized monetary phenomenon. We’re not going to see that,“ he told Fox News. - AFP
Read More Details
Finally We wish PressBee provided you with enough information of ( US tariffs set for August 1 unless trade deals reached )
Also on site :
- Love Island USA’s Cierra exits show after ‘racism’ scandal as partner Nic ‘wastes no time’ finding new connection
- ‘Rick and Morty’ Boss on How James Gunn and Zack Snyder Agreed to Parody Themselves and Their Dueling ‘Superman’ Takes (EXCLUSIVE)
- Morning Report — Texas braces for more flood danger after Hill Country tragedy