logo

U.S. Commerce Secretary: Tariffs to Take Effect on August 1

By: theblockbeats.news|2025/07/06 23:46:32

BlockBeats News, July 7th. On Sunday, Trump stated that he has reached some trade agreements with trading partners and will be sending letters to other countries informing them that tariff rates will be increased. U.S. Commerce Secretary Lutnick told reporters that the higher tariffs will take effect on August 1st, but Trump is "now working on the rates and agreements." In April this year, Trump announced a 10% basic tariff on most countries, as well as an additional tariff of up to 50%, although he later postponed the effective date of tariffs for all countries to July 9th (excluding the 10% tariff). Lutnick's comments imply a three-week tariff "reprieve." U.S. Treasury Secretary Besant had also made similar comments earlier, stating that countries that do not reach agreements will face tariffs starting August 1st, but denied that this date is a "new deadline." (Jin10)

U.S. Treasury Secretary Yellen stated that countries without an agreement will face tariffs starting August 1, but denied that the date is a "hard deadline."
In the last 24 hours, the entire network has seen $173 million in total liquidations, with the majority being liquidated from short positions.

You may also like

Share
copy

Gainers

Latest Crypto News

17:48

Yi Li Hua: Currently, the cryptocurrency market sentiment is overly fearful, presenting a short-term investment opportunity but requiring good risk management and stop-loss strategies

17:18

A certain anonymous hacker panic-sold 2,243 ETH in the market downturn at an average price of $3,589

17:18

Coinbase to List KITE

16:48

If Bitcoin surpasses $108,000, the mainstream CEX cumulative short liquidation strength will reach 5.76 billion.

16:48

Bitcoin Surges Above $106,000

Read more
Community
icon
icon
icon
icon
icon
icon
icon

Customer Support@weikecs

Business Cooperation@weikecs

Quant Trading & MMbd@weex.com

VIP Servicessupport@weex.com