The administration of Donald Trump has officially announced that the controversial tariffs known as "reciprocal" will come into effect on August 1, following a new postponement of the deadline, which was originally set for July 9.
This decision was confirmed by both the Secretary of Commerce, Howard Lutnick, and the Secretary of the Treasury, Scott Bessent, who accompanied the president in public statements over the weekend.
"The tariffs will take effect on August 1. The president is setting the rates and agreements right now," Lutnick stated in response to a journalist's question this Sunday.
Tariffs and letters: The maximum pressure strategy
The White House has begun sending tariff letters to more than a dozen countries since this Monday, detailing the tariffs they will have to bear if a trade agreement is not reached before the deadline. As Trump explained:
"We will send letters on Monday related to the trade agreements [...] there could be 12, maybe 15 [...] We have also finalized agreements, so we may have a combination of letters and some agreements," Trump specified on Truth Social.
Scott Bessent reaffirmed this position in an interview with CNN, clarifying that this is not a new extension, but rather a firm statement of intent:
"It's not a new deadline. What we're saying is: this is what's going to happen. If you want to speed things up, go ahead."
The letters signed by Trump would include tariffs with increases of up to 70% for some countries, much higher than those initially announced.
The tariffs will return to the levels set on April 2, a date that Trump referred to as the "Day of Liberation", marking the beginning of this new wave of tariffs.
The countries that negotiate and those that face tariffs
So far, the United States has reached limited agreements with the United Kingdom (maintaining a 10% tariff) and Vietnam (reducing tariffs from 46% to 20%).
A truce with China has also been achieved to ease tensions.
The European Union, for its part, views the possibility of reaching a preliminary agreement with relative optimism.
Brussels has intensified contacts with Washington in recent days, and according to European sources: “There has been progress towards a preliminary agreement,” although it would be an understanding of minimums, not a comprehensive treaty.
Other countries show more resistance.
Japan has warned that it "will not give in easily" in the negotiations; while the BRICS countries -Brazil, Russia, India, China, and South Africa, among others- are preparing a joint statement to condemn U.S. tariff policies.
Additional tariff on countries aligned with the BRICS
Amid the BRICS summit in Rio de Janeiro, Trump has issued a new warning: any country that aligns itself with the policies of this bloc will face an additional tariff of 10%.
"Any country that aligns itself with the anti-American policies of the BRICS will have to pay an additional tariff of 10%. There will be no exceptions," warned Trump on Truth Social.
Market reaction: Volatility and uncertainty
The announcement of the delay in the implementation of the tariffs had an immediate impact on financial markets.
Futures for the Dow Jones, S&P 500, and Nasdaq 100 fell between 0.33% and 0.37% on Sunday night.
This setback occurs after a week of historic gains on Wall Street, partly due to the expectation that the White House would avoid implementing more drastic measures.
Now, analysts fear that volatility will increase with each tariff update.
"Investors are concerned that a stock market at historical highs could become more volatile as the White House releases trade updates," explained Rajeev Sibal, senior global economist at Morgan Stanley, in comments reported by the U.S. press.
However, some experts, such as Tom Lee from Fundstrat Global Advisors, remain optimistic: “I agree with anyone who says, 'Look, we have reconfigured some of the economic flows around tariffs,’ but that is a positive story (...) This is the most hated V-shaped rally.”
The backdrop: An aggressive yet calculated strategy
Since taking office, Donald Trump has made tariff policy the central focus of his trade strategy, arguing that it is necessary to address the structural deficits of the United States.
The measures adopted since April are part of a “maximum pressure” approach, aiming to force swift negotiations with favorable terms for Washington.
Whatever the outcome may be, it is clear that tariffs are not merely economic instruments, but also diplomatic tools in a battle to redefine the rules of global trade.
Frequently asked questions about Trump's tariffs and their global impact
When will the new tariffs announced by Trump go into effect?
The new tariffs will take effect on August 1, following a postponement from the original date which was set for July 9. The announcement was made by Secretary of Commerce Howard Lutnick and Secretary of the Treasury Scott Bessent, who confirmed that this is not a new extension, but rather a firm statement of intentions from the U.S. government.
How will the new tariffs affect the financial markets?
The announcement of the tariffs has generated volatility and uncertainty in the financial markets. Futures for the Dow Jones, S&P 500, and Nasdaq 100 fell between 0.33% and 0.37% following the announcement of the delay. Analysts fear that volatility will increase with each tariff update, which could impact growth expectations on Wall Street.
Which countries are affected by Trump's new tariffs?
The new tariffs affect more than a dozen countries, including the United Kingdom, Vietnam, China, and potentially the BRICS countries. The United States has reached limited agreements with some countries, such as the United Kingdom and Vietnam, while others, like Japan and the BRICS, have shown resistance. The European Union is in negotiations to prevent an escalation of tariffs.
What is the strategy behind Trump's tariffs?
Trump's tariff policy is part of a "maximum pressure" strategy designed to force swift and favorable negotiations for the United States. Tariffs are not only economic tools but also diplomatic ones, in an effort to redefine the rules of global trade and correct the country's structural deficits. This strategy has led to tensions with several trading partners, who have responded with retaliatory measures.
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