President Donald Trump will sign an executive order on Thursday imposing new tariff rates on trading partners that take effect Friday, the White House said.
The signing will take place "at some point this afternoon or later this evening," White House Press Secretary Karoline Leavitt told reporters during a news briefing, adding that "Aug. 1, the reciprocal rates will be going into effect."
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It's unclear how many orders Trump will need to sign to enact the new policies.
Official directives are needed for the US to collect revenue from the new country-specific tariff rates Trump announced over the past month in a series of letters and social media posts.
Trump has struck deals with major trading partners, such as the European Union, the UK, Japan and South Korea, and unilaterally set rates on others, including India and Brazil. The president initially announced tariffs on almost every country in April, but paused them twice to allow more time for negotiations.
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Plans remain fluid about how the US will handle the many nations that did not reach a tariff agreement with Trump. The president previously said roughly 150 countries would
"The rest of those countries that either do not have a deal or have a letter, they will be hearing from this administration by the midnight deadline tonight," the spokeswoman said.
By waiting until the last minute to put the duties on paper, the administration has caused chaos for importers and back offices in the logistics industry that lack key details about their implementation. But the White House has stretched out talks with several partners in a bid to maximize leverage and secure the best possible terms.
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Leavitt also said more deals could be reached before Friday. The US agreed to
"If more deals are cut between now and midnight, I will never count out the president. You've seen him do it before," she said.
The president earlier Thursday
