White House confirms reciprocal trade tariffs will come into effect
(MENAFN) The White House confirmed on Thursday that reciprocal trade tariffs will come into effect at midnight on August 1.
Spokesperson Karoline Leavitt told reporters that 17 letters have already been sent to various countries, and others without trade deals or previous communications will receive notifications from the US administration by the deadline tonight.
Leavitt confirmed that the new reciprocal tariff rates will officially begin on August 1.
When asked about a possible extension of the August 12 deadline for China, she stated that current trade policies with China are progressing well, forecasting a $5 billion reduction in the trade deficit this year, indicating the US is moving in the right direction.
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