The Executive Order extends the pause on implementing higher reciprocal tariffs on 56 countries and economies (excluding China & Hong Kong) until August 1, 2025. This means the existing 10% baseline reciprocal rate remains in effect until that date. President Trump also sent letters to 14 countries outlining new, potentially higher, reciprocal tariff rates that will take effect on August 1 if no trade agreements are reached.
https://www.federalregister.gov/documents/2025/07/10/2025-12962/extending-the-modification-of-the-reciprocal-tariff-rates