US Edition
White House: Trump to Extend ‘Reciprocal’ Tariff Deadline to Aug. 1
UNITED STATES, JUL 8 – President Trump extends tariff deadline to August 1 to finalize trade deals and sets rates from 25% to 40% for 14 countries amid ongoing negotiations, White House said.
- On July 2, 2025, President Donald Trump announced an extension of reciprocal tariffs on imports from 14 countries, set to take effect August 1.
- The extension followed a delayed July 9 deadline to finalize trade deals aiming to benefit American workers and address long-standing trade imbalances.
- Tariffs range from 25% to 40% on goods from nations including Japan, South Korea, Malaysia, Laos, Myanmar, and South Africa, with conditions outlined in letters to leaders.
- Stock futures declined amid tariff news, with Dow futures dropping 127 points, S&P 500 futures down 0.24%, and Nasdaq futures falling 0.19%, while dividend growth slowed amid policy uncertainty.
- The tariff move signals increased pressure on trade partners and includes the possibility of doubling tariffs if retaliatory measures occur, reflecting efforts to protect U.S. manufacturing.
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Arizona Mirror
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