The State of Play Ahead of Trump's Tariff Deadline
Under Trump's current executive orders on trade, the pause on his so-called reciprocal tariffs will expire at 12:01 a.m. Wednesday. That means countries could rebound to the rates assigned to them on April 2 in Trump's "Liberation Day" action. Nations that strike a trade deal with the U.S. could be exempted from that hike, or receive more time to negotiate.
Countries that don't arrive at a deal with Trump will receive letters outlining the tariff levels they will pay, Trump has said. Nations could begin paying those tariffs on Aug. 1, administration officials said this weekend. But moving the deadline back to August would require executive action by Trump to avoid having the tariffs rebound automatically Wednesday.
So far, the administration says only three countries have arrived at agreements with Trump to avert steep tariffs. The U.K. notched a deal back in May, while Trump arrived at a tariff truce with China in June, and said he reached an agreement with Vietnam last week. Details of the China and Vietnam deals have not been released, and key aspects of the U.K. deal—such as how much steel can enter the U.S. duty-free—remain in question.
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