Trump Postpones Tariff Rollout Deadline to Aug. 1
(MENAFN) U.S. President Donald Trump signed an executive order Monday postponing the implementation of reciprocal tariffs to August 1, 2025.
“I have determined, based on additional information and recommendations from various senior officials, including information on the status of discussions with trading partners, that it is necessary and appropriate to extend the suspension effectuated by Executive Order 14266 until 12:01 a.m. eastern daylight time on August 1, 2025,” Trump stated in the order, released by the White House.
The tariffs were initially set to take effect on July 9.
The directive also clarified that a separate suspension involving China, originally ordered through Executive Order 14298 on May 12, remains unchanged.
Trump previously unveiled sweeping tariffs targeting 14 nations. These include a 25% tariff on Japan, South Korea, Malaysia, Kazakhstan, and Tunisia; a 30% duty on South Africa and Bosnia and Herzegovina; a 32% tariff on Indonesia; 35% on Serbia and Bangladesh; 36% on Cambodia and Thailand; and a 40% tariff imposed on Laos and Myanmar.
‘We are close to making a deal with India’
While speaking alongside Israeli Prime Minister Benjamin Netanyahu at the White House, Trump emphasized that the new August deadline is “firm, but not 100% firm.”
“If they call up and they say ‘we'd like to do something a different way,’ we're going to be open to that.”
Commenting on the tariff letters sent out earlier in the day, Trump described them as “final offers.”
“We're always subject to negotiate something that's fair, but we've talked to most of the countries. They've had their way for many, many decades...We just wanted fairness,” he said.
He added that agreements had already been reached with the UK and China.
"We're close to making a deal with India. Others we met with, and we don't think we're going to be able to make a deal. So we just send them a letter. If you want to play ball…this is what you have to pay," Trump concluded.
“I have determined, based on additional information and recommendations from various senior officials, including information on the status of discussions with trading partners, that it is necessary and appropriate to extend the suspension effectuated by Executive Order 14266 until 12:01 a.m. eastern daylight time on August 1, 2025,” Trump stated in the order, released by the White House.
The tariffs were initially set to take effect on July 9.
The directive also clarified that a separate suspension involving China, originally ordered through Executive Order 14298 on May 12, remains unchanged.
Trump previously unveiled sweeping tariffs targeting 14 nations. These include a 25% tariff on Japan, South Korea, Malaysia, Kazakhstan, and Tunisia; a 30% duty on South Africa and Bosnia and Herzegovina; a 32% tariff on Indonesia; 35% on Serbia and Bangladesh; 36% on Cambodia and Thailand; and a 40% tariff imposed on Laos and Myanmar.
‘We are close to making a deal with India’
While speaking alongside Israeli Prime Minister Benjamin Netanyahu at the White House, Trump emphasized that the new August deadline is “firm, but not 100% firm.”
“If they call up and they say ‘we'd like to do something a different way,’ we're going to be open to that.”
Commenting on the tariff letters sent out earlier in the day, Trump described them as “final offers.”
“We're always subject to negotiate something that's fair, but we've talked to most of the countries. They've had their way for many, many decades...We just wanted fairness,” he said.
He added that agreements had already been reached with the UK and China.
"We're close to making a deal with India. Others we met with, and we don't think we're going to be able to make a deal. So we just send them a letter. If you want to play ball…this is what you have to pay," Trump concluded.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
- Japan Well Intervention Market Size To Reach USD 776.0 Million By 2033 CAGR Of 4.50%
- Japan Shrimp Market Predicted To Hit USD 7.8 Billion By 2033 CAGR: 2.62%
- Ion Exchange Resins Market Size, Industry Trends, Key Players, Opportunity And Forecast 2025-2033
- Nutraceuticals Market Size Projected To Witness Strong Growth During 2025-2033
- UK Cosmetics And Personal Care Market To Reach USD 23.2 Billion By 2033
- Primexbt Launches Empowering Traders To Succeed Campaign, Leading A New Era Of Trading
More Story
Comments
No comment