President Trump announced new tariff rates this week on more than two dozen countries, set to go into effect August 1st.
The president sent letters to trading partners, informing them of those new tariffs — including increased rates on Japan, Canada and Brazil.
The president says he hasn't moved the deadlines.
"It's always been August 1st. That's when they're paying it," President Trump said. "It wasn't a change. It was August 1st."
But after the White House paused most of its initial tariffs in April, it set a July 9th deadline on trading partners and promised 90 deals in 90 days — a goal it failed to meet.
Now, even some Republican lawmakers are concerned with the tariff whiplash, even as they continue to stand by the president.
"It would be really good to get it behind us and to get some stability into what we'll be looking at for tariffs," said Sen. Mike Rounds.
"The uncertainty of this is starting to wear on people, particularly with supply chains," said Sen. Shelley Moore Capito.
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The tariff limbo is frustrating business leaders, says Columbia Business School professor Rita McGgrath.
"They're tearing their hair out. Absolutely. You know, they won't say so in public, but behind the scenes, how can you plan when, you know, one day it's 125% and the next day it is 200% and then the day after that it's 25%?"
Isaac Hetzroni is the CEO of a sourcing company and says the uncertainty is the most challenging factor for companies.
"What I hear most people complain about is not the fact that we have the tariffs, right? It's the fact they're consistently changing," Hetzroni said.
Despite tariff deadlines being pushed, they're already impacting many businesses.
Fifty-seven percent of major companies said tariffs have squeezed their profits, according to a May survey.
And three in four say they're considering upping prices by at least five percent over the next six months.
