Steep tariff rates are set to go back into effect after a 90-day pause on the April 2 rates that rocked the stock market.

US tariffs will kick in on August 1 if trading partners from Taiwan to the European Union do not strike deals with Washington, Treasury Secretary Scott Bessent said Sunday. Japan's Prime Minister Shigeru Ishiba said Sunday he "won't easily compromise" in trade talks with Washington.

Treasury Secretary Scott Bessent said on Sunday that countries will see their respective tariff rates “boomerang back” on Aug. 1 to the higher levels announced three months ago, if they don’t strike a deal with the U.

The United States is on the verge of finalising several critical trade deals, with Treasury Secretary Scott Bessent predicting a flurry of major announcements in the coming days. The push

But the Treasury secretary also said that some countries working toward agreements with the United States could have until Aug. 1.

The United States is close to clinching several trade deals ahead of a July 9 deadline when higher tariffs kick in, U.S. Treasury Secretary Scott Bessent