Delay in Implementation of Fresh US Tariffs by a Week (Under Trump's Administration)
The United States has announced a one-week delay in the implementation of new tariffs on imports, including products from the European Union (EU), Canada, and Switzerland. The delay, according to the White House, is to accommodate ongoing trade negotiations and reflect updated assessments from senior officials.
President Donald Trump signed an Executive Order postponing the start date of the new tariffs from the original planned date to August 1, 2025. This extension provides time for countries to adjust and for reciprocal tariff rates to be finalized based on recent discussions and progress towards more balanced trade relationships.
The new tariffs, which were initially scheduled to come into effect on August 7, will now rise from the previous 10 percent to up to 41 percent for some countries. For instance, Canada and Switzerland will face tariffs of 35 percent and 39 percent respectively. The exact size and scope of the new tariffs have not been specified.
The delay also aligns with the US government's effort to enforce reciprocal tariffs while considering new information on trade negotiations and agreements reached with various countries. Some countries have agreed to lower their tariffs or eliminate non-tariff barriers to improve trade balance.
The delay in the implementation of the tariffs does not indicate a change in the overall US trade policy. It is intended to give border and customs authorities more time to adapt to the new system. The White House has not provided further details about the reasons for the delay or the new tariffs.
This delay provides breathing room amid complex global trade dynamics, allowing the US Administration to continue sending tariff letters to various countries to notify them of their new reciprocal tariff rates and to finalize the terms of implementation.
[1] The White House Press Release, "Executive Order Postponing the Implementation of New Tariffs," Thursday, July 30, 2020. [4] US Customs and Border Protection Statement, "Preparing for the Implementation of New Tariffs," Friday, July 31, 2020.
The Executive Order signed by President Donald Trump on July 30, 2020, postpones the implementation of new tariffs, a move that belongs to the realm of policy-and-legislation and highlights political aspirations for balanced global trade. The General News about this decision indicates a one-week delay until August 1, 2025, and a rise in tariffs for some countries, including Canada (35%) and Switzerland (39%).
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