The EU and other countries could face US tariffs from August 1 unless they reach trade deals with Washington.
US Treasury Secretary Scott Bessent said this in an interview with CNN.
US sets new deadline for tariff deal
Bessent's announcement effectively delays the introduction of tariffs, which were originally due to return on April 2 but were suspended until July 9.
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The deadline has now been moved to August 1, giving countries an extra month to negotiate.
The Trump administration will send letters to 100 small countries warning them to return to the April 2 tariff rates.
Bessent said the letters would state that if the countries failed to make progress in the negotiations, the duties in effect on April 2 would return on August 1.
The Trump administration has reportedly used the period since April to pursue ambitious negotiations with other countries to reach agreements that would avoid the return of tariffs ranging from 10% to 50% for dozens of countries.
“This is not a new deadline. We are saying that this is when it will happen,” Bessent explained, denying accusations that threats are used instead of negotiations.
The situation comes as Trump administration officials increasingly hint at difficulties in reaching agreements.
At present, the US administration has already concluded agreements with Great Britain and Vietnam, and also agreed with China on a temporary reduction of duties.
The finance minister said the administration was close to finalizing several more agreements.
“I expect some important announcements in the next few days,” he said, without giving details about specific countries.
The American minister stressed that countries can independently decide the fate of the negotiations.
“If you want to speed things up, go ahead. If you want to go back to the old rate, that's your choice,” Bessent emphasized.
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