Tariffs will revert back to their April 2 rates on Aug. 1 for countries that fail to nail down new trade deals with the United States, Treasury Secretary Scott Bessent said Sunday, just three days before the Trump administration’s initial July 9 deadline for tariffs to return.

The president said of the plans: "Different amounts of money, different amounts of tariffs and somewhat different statements."

Trump signed the multitrillion-dollar legislation outside the White House, and then banged down the gavel that House Speaker Mike Johnson gifted him that was used during the bill’s final passage Thursday.