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Tariffs/ "August 1st deadline, no change", Trump: We will send a letter to the EU within 2 days, billions of dollars will enter the US
2025-07-08 19:39:57 / BOTA
Donald Trump's new deadline of August 1st for imposing tariffs on foreign products will not be subject to further changes. The US president wrote this in a message published on his Truth Social platform, adding that "today, tomorrow and in the coming days" his administration will send additional letters to the leaders of other foreign countries, in addition to the 14 letters announced yesterday.
“Tariffs, as you know, are starting to hit record levels and a lot of money is going to come into our country,” President Trump said during a cabinet meeting. The comments were accompanied by insults to his predecessors.
Trump also had a few words for the European Union: "The EU is treating us very well right now." Donald Trump said this at a government meeting, reporting on the contacts he had with the president of the European Commission and announcing that "we are probably two days away from sending the letter to the EU" that will specify the amount of duties on European exports.
Treasury Secretary Scott Bessent said there would be “$100 billion in revenue starting in the second quarter,” adding: “We can expect it to be over $300 billion by the end of the year.” Citing a report by the Congressional Budget Office, Bessent said revenue from tariffs could reach $2.8 trillion over the next 10 years.
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