President Trump's tariffs are set to go into effect August 7, but he's still negotiating with some countries. CNBC's Megan Cassella reports on what to expect from his trade deal deadlines and tariff decisions.

Washington

The U.S. government is set to implement new tariff rates on exports from more than 70 countries. India and Canada are among the largest trading partners affected, with India potentially facing significantly higher tariffs. The administration has not finalized the exact rates, and negotiations are ongoing.

Additional deadlines for tariffs on Brazil and China are also approaching. Talks with China have reportedly gone well, but it remains unclear whether the deadline for Chinese tariffs will be extended or what the final rates will be. The White House has not provided further details on the outcomes or the rationale behind the timing of these decisions.

What to know about Trump's tariffs and upcoming deadlines

Meghan, so many of these trade deals that have been taking place all at the same time, being negotiated at the same time, and we are facing some new deadlines this week for countries that we anticipate seeing potentially higher tariffs that there's not a deal reached. The president himself said substantially higher tariffs for India expected in the next 24 hours. How do you kind of sort through everything we've heard and figure out where things stand right now? Yeah, it's an interesting question, Becky. I was just inside actually talking with a White House official following this interview trying to get a sense of what exactly was coming on India and on a few other of the topics that you guys hit this morning. I'm told there's no update, so the president can't say at this point. He clearly hasn't settled on exactly what rate he's going to land on with India. But August 7th is Thursday. That's the day to really look at because all of the some 70-plus countries that got new tariff rates on all of their exports to the U.S., that's when they take effect is Thursday. The president has sort of had mixed views over the past few days over whether or not he's willing to strike more deals between now and then. Canada, to me, is the biggest outlier, is the biggest trading partner that doesn't have a deal and could potentially see a lower rate. Now, India is the next biggest trading partner that could see a higher rate. I'm curious. He had at one point talked about secondary tariffs targeting Russia and India would be impacted here of as high as 100 percent. So are we set to see 125 percent tariffs on India? That's something that I'm watching for in the next few days. And Megan, Thursday is the deadline, but then there are other deadlines beyond that for other countries. I think I'm starting to get to the point where I start to confuse them. China is later this month. Yes. All good questions. There are so many deadlines to keep track of. Thursday is the biggest one. So that's the next on our calendar. Friday is when tariffs on Brazil, I believe, are set to take effect, as well as the secondary tariffs that he had talked about. Those are both for Friday. China has that August 12th deadline. And this is another thing I was just raising with the White House official. You know, there were the Stockholm talks last week, which both sides said went fairly well. The president again this morning to you guys said things are going well with China. But we don't know why he hasn't yet extended that August 12th deadline. And we also don't know exactly what level tariffs would ratchet back up to against China if he decides not to extend it between now and then. The White House couldn't give me any further details as to what was going to happen on August 12th next Tuesday or as to why. We haven't heard anything yet. But that's the biggest question I would say after Thursday is then with China being such a massive trading partner for the U.S., what happens next, we still don't know.

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