Trump delayed reciprocal tariffs as Treasury Secretary wanted more time on trade deals: Report

US President Donald Trump reportedly decided to delay the implementation of the ‘reciprocal’ tariffs to August 1 on the suggestion of the US Treasury Secretary. As per a report, Scott Bessent indicated to Trump that he could get more trade deals done if he pushed back the deadline. 

According to a report by Wall Street Journal, Bessent and other administration officials felt that they were making progress on deals with several trading partners, including India and the European Union.

Trump had already sent out letters to a few countries before the initial pause on the reciprocal tariffs were set to lapse on Wednesday. On Monday, he postponed the implementation by three more weeks to August 1. 

The report, quoting sources, also added that before sending out the letters Trump deliberated on phone calls and private conversations if he should give the new August deadline or send the letters without a date but a simple declaration of the tariff rates. 

However, after he heard from Bessent that some deals were close but needed more time, Trump decided to extend the deadline. Bessent was one of the key aides to have convinced Trump to pause the ‘reciprocal tariffs’ initially by 90 days. 

Trump apparently told aides and allies that he was frustrated with the lack of progress made with certain countries, and blamed those countries for not bringing deals that, according to him, were not good enough for the US. He wanted to ride on the perceived wins of his ‘One Big Beautiful Bill’ and his bombing of Iran to sign the trade policy. 

In the end, the report added, Trump decided to send the letters out, along with the delay as a negotiating tactic, to obtain last-minute concessions. 

Meanwhile, Trump plans to impose a 50 per cent tariff on copper, aiming to increase US production of the metal vital for electric vehicles, military equipment, the power grid and various consumer goods. The tariff announcement came earlier than expected and at a higher rate than industry forecasts. Trump informed reporters at a White House cabinet meeting that he intended to announce the tariff later in the day but did not specify when it would take effect. US Commerce Secretary Howard Lutnick later stated in a CNBC interview that the tariffs would likely be implemented by the end of July or August 1.