US President to Notify Higher Tariff Rates by July 9

Washington, D.C. — President Donald Trump announced on Sunday that the United States will inform countries about new higher tariff rates by July 9, with the rates set to take effect on August 1.

The announcement comes as stock markets experienced declines amid uncertainty surrounding the timing and levels of these tariffs. Trump said the tariffs are part of ongoing negotiations with international trading partners.

“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 tariff level,” Treasury Secretary Scott Bessent told CNN.

In April, Trump revealed a base tariff rate of 10% on most countries, along with higher “reciprocal” rates that could reach up to 50%. However, he added that tariffs might range from “maybe 60% or 70% tariffs to 10% and 20%,” adding to the confusion.

Analysts had anticipated adjustments to the timeline, citing that very few trade agreements had been finalized. It remains unclear whether the July 9 deadline applies to all trading partners or only select ones.

The situation continues to develop as both sides work toward finalizing trade deals.