Trump Announces New Trade Agreements and Tariff Increases

According to PANews, U.S. President Donald Trump announced on Sunday that new trade agreements have been reached with some partners, and he plans to notify other countries about upcoming tariff increases. U.S. Commerce Secretary Lutnick informed reporters that the higher tariffs will take effect on August 1, although Trump is still finalizing the rates and agreements. In April, Trump declared a 10% base tariff on most countries, with additional tariffs of up to 50%. However, he later postponed the implementation date for all tariffs, except the 10% rate, to July 9. Lutnick's comments suggest a three-week delay in the tariff enforcement. U.S. Treasury Secretary Besent also made similar remarks, indicating that countries without agreements will face tariffs starting August 1, but he denied that this date is a 'new deadline.'