Bessent: Tariffs will 'boomerang' back to April levels by Aug. 1 for countries without deals | Metals Mine

  • Bessent: Tariffs will 'boomerang' back to April levels by Aug. 1 for countries without deals

    From cnbc.com

    Treasury Secretary Scott Bessent said Sunday that tariffs announced back in April will take effect on Aug. 1 for countries that have not reached an agreement with President Donald Trump’s administration. “President Trump’s going to be sending letters to some of our trading partners saying that if you don’t move things along, then on August 1, you will boomerang back to your April 2 tariff level,” Bessent said on CNN’s “State of the Union.” On Aug. 1, countries will “get a letter saying that if we have not reached an agreement, then you will go back to the April 2 level,” he said. Bessent rejected ... (full story)

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The Fool
Jul 6, 2025 1:46pm
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Who pays the tariffs?
Dutchy Daxy
Jul 6, 2025 7:27pm
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Quoting Polimini
wait, now it's August? Did commander TACO used his superpowers again lmao what a clown show.
Buying time to try to get a few "deals" done.
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Polimini
Jul 6, 2025 5:46pm
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wait, now it's August? Did commander TACO used his superpowers again lmao

what a clown show.
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death-wish
Jul 6, 2025 1:57pm
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Quoting The Fool
Who pays the tariffs?
the us tax payer
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Trader#351D
Jul 6, 2025 2:00pm
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Or the business that doesn’t want to lose the customer they will eat it as extra tax. Prices may increase slightly but not too much impact directly to customer. I know this first hand, having received tariff bills and discussing it with the business I wasn’t going to pay. What I found out was that they literally choose as they work with the shipper who will be responsible for them.
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Trader#8FAE
Jul 6, 2025 2:56pm
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CPI will boomerang and smack the US consumer right in the back of the head! Why the back of the head? Because they are too busy being xenophobes and chanting U S A......
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