Trump postpones new tariffs to August 7

US President Donald Trump has decided, through an executive order, that new global tariffs, which were due to come into effect this Friday, will begin to be applied on August 7.

The new tariff plan was published Thursday on the White House website, hours before the deadline given to trading partners to reach an agreement on the new rates.

Tariff changes come into effect at 04:01 GMT (5:01 Lisbon time), seven days after the date of the ratified order .

The decree states that some U.S. trading partners have agreed, or are close to agreeing, to significant trade and security commitments, but adds that others, despite having entered into negotiations, have proposed conditions that do not "sufficiently" address imbalances in trade relations or do not adequately align with the United States on economic and national security issues.

Some, the executive order adds, have not directly engaged in negotiations or taken steps to align with the US on economic and national security issues.

For countries to which the US sells more than it buys, the 10% rate set on April 2, the day a full set of tariffs on US partners was first announced, remains in effect.

A 15% rate is being touted as the new minimum for countries with which the United States considers itself to have a trade deficit , according to CNN . About 40 countries are subject to this percentage, including Costa Rica, Ecuador, Venezuela, and Bolivia.

Furthermore, countries like Myanmar (formerly Burma) and Laos will be subject to 40% tariffs. And only three countries—the Democratic Republic of the Congo, Equatorial Guinea, and Switzerland—will have higher tariffs than those already applied, according to CNN data.