#TrumpTariffs April 2, 2025 ("Liberation Day"): Trump launched a universal 10 % baseline tariff on imports, plus "reciprocal" tariffs (up to 50 %) on major trade partners .

That policy was paused for 90 days to July 9 following market turmoil .

New behavior:

July 7: Delivery of “warning letters” began—aheads of August 1, when full tariffs (10–70 %) will be reactivated unless deals are finalized .

Treasury Secretary Scott Bessent – and others – clarified that while July 9 remains the pause’s end, August 1 is the official enforcement date .