U.S. President Donald Trump announced Sunday that the U.S. is nearing several new trade agreements, while confirming that new tariff rates will take effect on August 1, with formal notifications to partners beginning by July 9.

This update provides nations a three-week period to solidify trade agreements, as the administration advances its comprehensive realignment of U.S. trade policy.

Administration to Notify Over 100 Nations About Tariffs

Treasury Secretary Scott Bessent, speaking on CNN’s State of the Union, shared that the U.S. will send letters to about 100 smaller trading partners. Countries that do not reach agreements by August 1 will see tariffs revert to steep levels first announced on April 2—a base tariff of 10% on most imports, with potential additional levies reaching 50%.

Commerce Secretary Howard Lutnick confirmed the timeline, stating that the full implementation of rate increases will begin on August 1 once notifications are out.

Agreements Made with the UK and Vietnam; Ongoing Talks with EU and India

Deals have been reached with both the United Kingdom and Vietnam, while progress continues with China. Negotiations with significant trading partners like the European Union and India are also underway, though final agreements have yet to be announced.

Kevin Hassett, Director of the White House National Economic Council, hinted at potential extensions, stating on CBS’s Face the Nation:

“There are deadlines, and things are close, so some might push beyond the deadline.”

However, Hassett noted that the final decision rests with the president, keeping markets alert for last-minute changes.

Market Impact

The shifting trade policies have heavy implications for:

• Currency markets, particularly Asian currencies sensitive to tariffs

• U.S. stock futures, which dipped ahead of the opening as uncertainty mounts

• Safe haven assets such as gold, which have shown mixed movements amid economic evaluations

Stay updated on how these trade changes influence your portfolio:

👉 Market Most Active API – Tracks stocks most affected by trade fluctuations
👉 Economic Calendar API – Monitors critical policy deadlines like July 9 and August 1

Conclusion

As the U.S. moves to implement broader tariff increases, trading partners now confront a ticking clock. The upcoming weeks will decide the fate of negotiations—whether they yield fruitful deals or further disruptions—hinging on rapid diplomatic efforts and Trump’s final decisions.

Markets are preparing for the repercussions.