The White Home introduced on Monday (July 7) that it’ll formally delay the reimposition of tariffs till August 1, issuing an government order to push again the unique July 9 deadline. The choice gives a short-term reprieve to international buying and selling companions amid ongoing negotiations with the Trump administration.
“The President will signal an government order delaying the July deadline of tariffs to August 1,” the White Home mentioned in an announcement.
Extra commerce letters coming
Along with the delay, the administration revealed that 12 extra nations will obtain formal commerce notification letters within the coming days. These letters will element tariff ranges that can apply to every nation’s exports except new commerce phrases are negotiated.
The White Home additionally confirmed the letters will likely be publicly posted on Trump’s Reality Social account.
Delay of July 9 tariff deadline
At a White Home briefing, Press Secretary Karoline Leavitt confirmed that Trump would signal an government order delaying the broader implementation of tariff hikes from July 9 to August 1. She added that letters to 12 different nations could be issued within the coming days and posted publicly on Reality Social.
“These letters will not be negotiated settlements,” Leavitt mentioned. “They’re President Trump’s direct communication of tariff charges to every buying and selling companion. We’re persevering with to create tailored commerce plans for each nation on this planet.”
The three-week window earlier than the August 1 tariff implementation is being handled by the administration as an off-the-cuff extension of the 90-day negotiating interval that started in April when Trump first introduced sweeping tariff plans on what he referred to as “Liberation Day.”
Trump imposes 25% tariffs on Japan and South Korea
President Donald Trump on Monday introduced a 25% tariff on imports from Japan and South Korea, escalating commerce tensions with two of the US’ key allies in Asia. The brand new tariffs, which take impact on August 1, come amid what the White Home calls an effort to appropriate long-standing commerce imbalances and implement “reciprocal” commerce practices.
Trump unveiled the tariffs in formal letters addressed to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung, which have been posted on his Reality Social account. In them, Trump warned each leaders towards retaliating with their very own tariff hikes.
“If for any motive you determine to lift your Tariffs, then, regardless of the quantity you select to lift them by, will likely be added onto the 25% that we cost,” Trump wrote.
The letters additionally emphasised that the tariffs have been being imposed unilaterally as a part of Trump’s “tailored” strategy to every nation’s buying and selling relationship with the U.S.
Restricted progress on commerce offers
Regardless of guarantees of “90 offers in 90 days,” the Trump administration has introduced solely two commerce frameworks thus far — one with Vietnam and one other with the UK. The Vietnam deal seems designed to stop China from utilizing Vietnamese provide chains to bypass tariffs, whereas the UK pact contains quota-based exemptions on metal, aluminum, and autos however nonetheless topics most British items to a ten% tariff.
