21:52 2025-07-06
Lutnik: Tariffs will take effect on August 1On July 7, Trump said on Sunday that a number of trade deals had been reached with trading partners and that he would send letters to other countries informing them that tariff rates would be raised. U.S. Commerce Secretary Lutnik told reporters that the higher tariffs would take effect on August 1, but Trump "is working on rates and agreements right now." In April, Trump announced basic tariffs of 10 percent on most countries, as well as additional tariffs of up to 50 percent, though he later d...
21:17 2025-07-06
Mr. Bescent said countries without a deal would face tariffs from August 1 but denied that date was a "new deadline"On July 7, U.S. Treasury Secretary Vincent Bescent said on Sunday that tariffs announced in April this year will come back into effect on August 1 for countries that do not have a trade deal with the Trump administration. "President Trump will be sending a letter to some of our trading partners saying that if you do not act, then on August 1, your tariffs will return to the levels they were on April 2," Bescent said. On August 1, countries that do not have a deal will "receive a letter," he said...
20:32 2025-07-06
U.S. Treasury Secretary Vincent Bescent: Musk should stay out of politicsOn July 7th, US Treasury Secretary Vincent Bescent believes that Musk should stay away from politics and focus on managing the companies he controls. Musk has previously posted on social media that he will create a new party, called the American Party, after the US Congress passes the "Big and Beautiful" bill, which includes tax cuts and expenses, to avoid the bankruptcy of the United States. Bescent said that the boards of companies managed by Musk, including Tesla and SpaceX, may want Musk to ...