The implementation of new tariffs affecting numerous trade partners has been postponed by one week, according to an announcement from the White House on Thursday evening (local time). This delay extends to levies imposed on imports from the European Union. Originally slated to take effect this Friday, the tariffs will now go into effect on August 7th. The stated reasoning behind the postponement is to provide border and customs authorities with additional time to implement the revised system.
President Donald Trump has also signed an executive order increasing U.S. tariffs on imports from nearly 70 countries. The tariff rates, previously at ten percent, are now being raised to levels reaching as high as 41 percent. Canada and Switzerland are notably affected by these adjustments, facing tariffs of 35 percent and 39 percent respectively.
