President Donald Trump has postponed the implementation of sweeping new tariffs to August 1, sparking confusion and diplomatic urgency. Initially expected by July 9, the tariffs—featuring a 10% base rate, with certain goods taxed up to 70%—will now give trade partners a brief window to strike deals. An additional 10% penalty looms for countries aligned with BRICS nations.
Only the UK and Vietnam have secured exemptions so far, while talks continue with over a dozen nations, including India, Canada, and the EU. The announcement sent shockwaves through global markets, with industries like steel and aluminum—particularly in India—already suffering.
Commerce Secretary Howard Lutnick confirmed the delay, citing “room for fair negotiations.” With just weeks left, countries must act fast or face a costly trade war.#TrumpTariffs 