US Edition
White House: Trump to Extend ‘Reciprocal’ Tariff Deadline to Aug. 1
- On July 7, 2025, President Donald Trump notified the leaders of 14 countries about the implementation of new tariffs in the United States, set to take effect on August 1.
- The tariff deadline was extended from July 9 to August 1 to allow more time for trade deal negotiations, as stated by White House Press Secretary Karoline Leavitt.
- Tariffs vary by country, with rates including 25% for Japan and South Korea, 30% for South Africa, and up to 40% for Laos and Myanmar, reflecting a targeted approach to trade imbalances.
- In the letters, Trump stated that if the other party increases their tariffs for any reason, the U.S. will respond by adding the same percentage increase to the tariffs it imposes.
- The tariffs pressured markets as U.S. stock futures fell and auto stocks linked to Japan and South Korea declined, signaling investor concern over escalating trade tensions.
231 Articles
231 Articles
New trade war deadline prolongs instability, UN trade agency says
GENEVA: The Trump administration's decision to extend a negotiating deadline for tariff rates is prolonging uncertainty and instability for countries, the executive director of the United Nations trade agency said on Tuesday. © New Straits Times Press (M) Bhd
US President Trump wants to convince other countries to conclude deals with the US with his customs threats. Wolfgang Landmesser reports on what this policy means for US companies.
The White House has extended the deadline for the new trade agreements until the beginning of August – and in doing so it also slightly adapts the tariff rates threatened. Bilateral letters now inform the countries.
Washington, Jul 7 (EFE).- U.S. President Donald Trump postponed this Monday from July 9 to August 1 the tariff truce granted to his trading partners, but already set for some of them, such as Japan or South Korea, the charges they will have to pay from then on.In statements to the White House press, however, Trump was open to postponing again the entry into force of the tariffs, which he announced for the first time in April, if the countries gi…
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