New Deadline Set: Trump tariff Rate Hikes Effective from August 1

President stated on Sunday that the United States is nearing the completion of a number of trade deals with its trading partners and would notify other nations of increased tariff rates by July 9 that will go into effect on August 1. In April, Trump tariff announced a base  of 10% on most of America’s trading partners and thereafter additional duties ranging up to 50%. However, due to a global financial commotion over the newly announced tax, the US president had later delayed the effective date for all but 10% until July 9. The new date of August 1 for higher taxs to take effect offers countries a three-week reprieve.

Trump Tariff Ranges by Letter to Notify Nations of 10–70%

Source Truth Social

He said he will start sending letters to other countries today announcing unilateral tax that will go into effect on August 1. The Trump tariff will range from 10% to 70%. “Countries will start paying on August 1, the money will start coming in on August 1" President said.

The President, aboard Air Force One on July 4, had said sending notices would be much easier than “sitting down and working 15 different things…this is what you have to pay, if you want to do business with the United States.”  The United States has so far announced trade deals with the United Kingdom and Vietnam, and the administration has also agreed to temporarily lower high tariffs on Chinese products, with China reciprocating.  US Treasury Secretary Scott Bessent told CNN, “President Trump’s going to be sending letters to some of our trading partners saying that if you don’t move things along, then on August 1 you will boomerang back to your April 2 Trump tariff level. So I think we’re going to see a lot of deals very quickly.”

US President threatens 'ADDITIONAL 10% tariff' for any country aligning with 'Anti-American BRICS

President  is implementing a bold and assertive tax strategy, sending letters to around a dozen countries, with rates potentially reaching 70%, to protect American industries and negotiate better trade deals. US President has issued a warning on Truth Social, stating that countries aligning with the "Anti-American policies of BRICS" will face an additional 10% taxrate with no exceptions. This comes as the BRICS nations hold their annual summit in Rio de Janeiro, with some of the biggest emerging economies in attendance. His statement signals a tougher stance on nations seen as drifting toward the influence of the BRICS bloc.

Potential Increase in Inflation and Market Volatility Are Ahead

The upcoming 10% Trump tariff on US businesses tied to BRICS could impact supply chains and increase costs, potentially leading to inflation. Retaliatory taxs are likely, causing a tit-for-tat trade war similar to the 2018-2020 US-China incident. Market uncertainty will increase volatility in equities, commodities, and crypto. These moves could deepen global rifts, accelerate BRICS' push for alternative systems, and force players worldwide to rethink old alliances.

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Will the World Rethink Alliances Amid U.S. Trade Pressure?

The Trump tariff 10%  on businesses linked to the BRICS nations, sparking global markets with fears of a renewed trade war. Analysts warn that this move could disrupt supply chains, raise consumer prices, and accelerate inflation. The US administration has already secured trade deals with the UK and Vietnam , while temporarily easing tariffs on some Chinese imports. The move is expected to deepen geopolitical divides and potentially lead to retaliatory Trump tariff, impacting commodities, equities, and crypto markets. Experts now await official responses from BRICS leaders, especially India and China, who stand at the forefront of the bloc’s global economic influence.