W ASHINGTON—President Trump decided to delay the implementation of his so-called reciprocal tariffs to Aug. 1 after advisers including Treasury Secretary Scott Bessent told him he could get trade deals with more time, according to people familiar with the matter.

The EU is aiming for a July 9 deal, which would include a 10 percent baseline tariff. Trump has threatened to impose 50 percent tariffs if no deal is reached.