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US 50% Tariffs Set for August 1 Implementation, Global Trade Scramble Ensues
US 50% Tariffs Set for August 1 Implementation, Global Trade Scramble Ensues
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BTCCSquare news:
Commerce Secretary Howard Lutnick has confirmed the implementation of 50% tariffs on August 1, 2025, as part of President Trump's trade policy shift. The MOVE has triggered a global rush to finalize trade agreements before the deadline, with countries like Thailand and India negotiating aggressively to mitigate the impact.
Treasury Secretary Scott Bessent highlighted the unprecedented urgency among trading partners during a CNN interview. The tariffs target 18 key trading partners, potentially reshaping global trade dynamics and forcing rapid deal-making to avoid steep duties.
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