Treasury secretary says countries without trade deals will see tariffs ‘boomerang’ to April rates by Aug. 1

“Asked whether the U.S. would be flexible with any countries about on the July 9 deadline, Trump said, “Not really.”

“They’ll start to pay on Aug. 1,” he added. “The money will start to come into the United States on Aug. 1, OK, in pretty much all cases.”

Tariffs are paid by importers — which can pass on part or all of the costs to consumers — and not necessarily by entities in the goods’ country of origin.”

https://finance.yahoo.com/news/treasury-secretary-says-countries-without-170129594.html

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