US tariffs will kick in on August 1 if trading partners from Taiwan to the European Union do not strike deals with Washington, Treasury Secretary Scott Bessent said Sunday. Japan's Prime Minister Shigeru Ishiba said Sunday he "won't easily compromise" in trade talks with Washington.

Steep tariff rates are set to go back into effect after a 90-day pause on the April 2 rates that rocked the stock market.

The US government is to start sending out letters to countries with details of higher US tariff rates that will begin on 1 August, President Donald Trump has said. Between 10 to 12 letters will go out on Friday, with more over the coming days, the president told reporters.

Trade talks ahead of July 9 cut-off, Netanyahu meets US president and UK Post Office IT scandal inquiry publishes its first report

US President Donald Trump on Saturday said that his administration is immediately sending letters to the first batch of 10 to 12 countries, sharing details of reciprocal tariff rates and the entire process could be completed by July 9.