The tariffs will return with out provides in August to April

The US Finance Minister Scott Bessent speaks to reporters in the US Capitol when the Republican legislators have difficulty passing the US President Donald Trump's extensive expenditure and tax bill on the Capitol Hill in Washington, DC.

Elizabeth Frantz | Reuters

Finance Minister Scott Bessent said on Sunday that the tariffs will come into force on August 1 for countries on August 1 who did not agree with the government of President Donald Trump.

“President Trump will send letters to some of our trading partners if they do not move on things, they will return to their tariff level on April 2 on August 1,” said Bessent about CNN's “state of the Union”.

The countries “receive a letter in which it means that if we have not made an agreement, they will return to April 2,” he said.

Bessent refused the idea that August 1st is another new tariff period, but the August date could continue to give more time to renegotiate collective bargaining prices.

“We say this is when it happens if you want to accelerate things if you want to return to the old price that is your choice,” said Bessent.

In April, Trump announced a 90-day break for the steep tariffs, which he had presented for most large trading partners just a few days earlier. This 90-day break will expire on Wednesday and the concern between investors and US trade partners will have an impact.

The White House did not react immediately to the request from CNBC to comments on Besent's comments.

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Besent's comments come to Trump last week that the administration would send about a dozen letters to trading partners on Monday, in which they are informed about their tariff rates on August 1st.

“You will start on August 1st. The money will come to the USA on August 1st in almost all cases,” Trump told reporters on Friday.

Bessent suggested that new trade agreements could soon be announced.

“I would expect several great announcements in the next few days,” he said when he was asked whether the administration was close to business before Wednesday.