Letters to Countries Demand Deals by August 1st to Avoid Tariffs

On Monday, July 7, President Trump took a decisive step by authorizing the dispatch of letters to various countries, indicating that if suitable trade agreements are not reached by August 1, additional tariffs will be imposed. This move is a follow-up to an Executive Order issued on April 2, which stated that imports from several countries would be subject to additional tariffs. However, on April 9, President Trump announced a 90-day pause on these tariffs, extending the deadline to July 9.

In a recent appearance on CNN on Sunday, July 6, Treasury Secretary Scott Bessent mentioned that President Trump would be sending letters to certain trading partners, warning them that if significant progress is not made, the tariffs from the April 2 Executive Order will be reinstated on August 1. President Trump also took to Truth Social to post examples of these letters, specifically mentioning Japan and South Korea, where the administration plans to impose 25% tariffs on imports from these countries by August 1.

Within this link, Annex-I.pdf,  you will find the original list provided in the Executive Order for the reciprocal tariffs. Please note that this list may still undergo changes.

IFF will continue to keep you updated about the U.S. tariffs as more information becomes available.