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 the idea that Aug. 1 ... (full story)