Trump's tariffs backfire? Treasury Secretary Bessent warns: Levels will return to April levels on August 1, with countries that do not reach agreements being the first to be affected.

As the 90-day tariff reprieve from the United States for its major trading partners is about to expire, Treasury Secretary Scott Bessent has issued an ultimatum: if a new agreement is not reached, the high tariffs announced in early April will be fully reinstated on August 1.

August 1: For those who have not signed the protocol, tariffs will "rebound" to April levels.

U.S. Treasury Secretary Scott Bessent stated on Sunday that for countries that have not yet reached trade agreements with the U.S., the Trump administration plans to restore the tariff levels set on April 2 starting August 1. "The president will send notice to some trading partners, indicating that if you do not accelerate the negotiation process, then starting August 1, the tariff rates from April 2 will be restored," Bessent said.

This statement means that if there is no substantial progress in the negotiations, the previous grace period will officially end, and the tariffs on imported goods will rise to a higher rate.

Isn't it a new deadline? The finance minister emphasizes: This time we really have to start taxing.

Although this announcement sounds like "another new deadline," Bessent insists that this is not a new negotiation timeline, but rather an official preview of the "execution time."

"What we're talking about is the timing. If you want to speed up the negotiations, feel free to come to the table; but if not, then you can revert to the old tariffs, that is your choice," Bessent stated.

The 90-day grace period is about to expire, and the market is on edge.

In April of this year, President Trump announced high tariffs on most major trading partners, but then provided a 90-day delay, attempting to gain more room for bilateral or multilateral agreements. This buffer period will end this Wednesday (July 10), causing the market and various governments to once again fall into anxiety.

The White House has not yet made a formal response to Bessent's remarks, but the Treasury Secretary's statement aligns with Trump's comments last Friday. Trump had told the media at that time that the government would send formal notification letters to more than a dozen trading partners on Monday. "Starting from August 1, they will have to start paying tariffs, and in almost all cases, U.S. revenue will start coming in from that day," Trump said.

Is there still room for negotiation? Bessent hinted that a significant protocol will "emerge soon."

Despite the tense atmosphere, Bessent also threw out a bit of hope. He hinted that several significant trade protocols are expected to be announced in the coming days.

When asked if a new protocol could be reached before the deadline on July 10, he said, "I expect to see some significant news in the coming days."

This means that trade negotiations may still see a breakthrough before comprehensive tariffs are imposed. However, there are only a few days left until the deadline, and the pressure of time is rapidly increasing.

From making statements, setting deadlines, to tariff adjustments, the United States once again demonstrates its strategy of "negotiation is pressure." As August 1 approaches, global trade partners will inevitably have to make choices in a short time: compromise, negotiate, or welcome the arrival of high tariffs?

Is Trump's tariff a boomerang? Treasury Secretary Bessent warns: On August 1, it will return to April levels, with countries that haven't reached an agreement being the first to bear the brunt. First appeared in Chain News ABMedia.