All will come into effect in August, as more announcements are expected. EU negotiations, for instance, are still ongoing. Trump has also newly threatened countries that align themselves with what he called the “anti-American” policies of the BRIC nations (core members include Brazil, Russia, India, China and South Africa), with an additional 10 per cent tariff — though he did not provide further details.
US Treasury Secretary Scott Bessent said 1 August was not a new deadline for negotiations. However, both the Trump administration and various global leaders have intimated that discussions are still underway. This includes those with tariffs not yet announced, as well as nations who wish to renegotiate their levies. “If they call with a different offer, and if I like it, we’ll do it,” Trump told reporters on Monday. Adding to the confusion, Trump said that evening that the new 1 August deadline is “firm, but not 100 per cent firm”.
With the deadline currently pushed back until then, and no guarantee that rates won’t shift upon further negotiation, there remains little certainty for brands, retailers and manufacturers alike. As brands have seen time and time again, rates and agreements can change fast. With almost a month until global tariff rates will come into play, there’s the possibility of further changes.
“Since ‘Liberation Day’, American businesses and consumers have been navigating a shifting and unpredictable trade landscape,” says Steve Lamar, president and CEO of the American Apparel and Footwear Association (AAFA). “While [Monday’s] delay offers some short-term relief, the letters announcing unsustainable tariff rates on some of our industry’s most important trade partners delivered another blow to American businesses.”
Brands that had hoped to action any supply chain or manufacturing shifts upon the announcement may have to wait. “The latest changes mean there is no clarity,” says Neil Saunders, managing director and retail analyst at Globaldata. “They make it extremely hard for retailers and brands to plan as the tariff rates and deadlines keep changing. What most companies want is a settled state for tariffs, that way they can determine manufacturing and sourcing location and work out costs. Most are not in that position right now.”
Certain countries seem to have relatively set deals, Saunders says, pointing to Vietnam’s 20 per cent tariff, agreed upon prior to this week’s deadline. “This provides some islands of certainty, and a lot of brands will cling to them,” he adds.
