Name: WSJ Explains Latest Twists in Trump’s Tariff Plans
Uploaded: 2025-08-01T11:17:00Z
Duration: 2 min 3 s
Description: President Trump has delayed tariffs by one week and hit some partners with steep new rates. WSJ finance editor Alex Frangos explains.

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President Trump has delayed tariffs by one week and hit some partners with steep new rates. WSJ finance editor Alex Frangos explains. Photo: robyn beck/Agence France-Presse/Getty Images

https://m.wsj.net/video/20250801/db56ba2f-c27c-4598-aded-e4aa046cbbb2/1/hls/manifest-hd-wifi.m3u8

President Trump has delayed tariffs by one week and hit some partners with steep new rates. WSJ finance editor Alex Frangos explains.

WSJ Explains Latest Twists in Trump’s Tariff Plans

President Trump signed an executive order slapping tariffs on virtually every country in the world, but there are some big exceptions and some big important details. This is an update to the so-called Liberation Day tariffs back in April. The big detail is that he delayed implementation for another week on most of the countries, so we now have until August 7th. Administration officials say this is leaving room for some further negotiations.

I will never count out the president. You've seen him do it before. He cut three deals in one day very recently.

But we had some big tariffs on Canada, on India, on some of the biggest trading partners in the world. Mexico got a 90-day reprieve, so its talks continue. The other big exception out there, of course, is China, which has its own separate deadline of August 12th. Another big surprise was Switzerland, a developed country got a higher tariff rate than it was expected back in April, 39%. Most of the other developed countries have have gotten 15%, like European Union countries, Japan, Korea, UK got 10%. So that's definitely a bit of a surprise.

We have made a few deals today that are excellent deals for the country. You know, we're taking in literally trillions of dollars for the country.

The other wild card in all of this appeals court case going on that had a hearing yesterday where the administration is fighting against attempts to invalidate the tariffs. Basically, the case is that Trump doesn't have the authority to impose them based on him saying that there's a national emergency. There were some really skeptical voices on among the judges who were questioning the lawyers yesterday. That case won't be resolved for a little bit, but it does throw a further uncertainty into the mix. So this is not the end and this is not the beginning. We're somewhere in between. But the big thing is that negotiations will continue, you know, on all sorts of levels.

WSJ Explains Latest Twists in Trump’s Tariff Plans

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