US Gives Trading Partners Until August 1 to Cut New Trade Deals

News Snapshot:

A pause on U.S. tariffs levied against many of its trading partners that was expected to expire this coming week on July 9 has now been pushed back to August 1, U.S. Treasury Secretary Scott Bessent said today on CNN. However, Bessent denies that this new deadline is, in fact, a new deadline. “We are saying this is when it’s happening,” Bessent told CNN in reference to the August 1 cutoff, Reuters reports. “If you want to speed things up, have at it. If you want to go back to the old rate, that’s your choice.” The “old rate” in...