US President Donald Trump on Tuesday confirmed that the August 1 deadline to impose higher tariffs on dozens of nations will not be delayed, doing an about-face from comments the previous day indicating possible flexibility.
The tariffs, initially triggered in April by a general 10% tariff on most trading partners, were then sharpened in May as targeted nations with a higher rate. The increases were pushed back to July 9 and then further to August 1, but Trump now adamantly maintains the new deadline is immovable.
There will be no change,” Trump tweeted, saying that the tariffs will be imposed starting August 1 and that notices have already been sent to the countries concerned. “No extensions will be granted,” he stressed.
On Monday, Trump had signaled the deadline was “firm, but not 100% firm,” which left room for negotiations. But his latest message indicates a harder line, especially in the context of what he sees as unfair trade practices.
Trump wrote letters to over a dozen nations including US allies Japan and South Korea threatening tariffs of up to 25%, and in certain instances up to 40%. Other nations subject to levies are Indonesia, Bangladesh, Thailand, Malaysia, South Africa, Laos, and Cambodia.
The president warned retaliatory tariffs would lead to more escalation and threatened punishing countries believed to be diverting exports to circumvent duties. Nevertheless, he suggested if trading partners changed policies, the rates of tariffs could be reconsidered.
In spite of multiple threats, the Trump administration has only signed a few trade deals, such as agreements with Britain, Vietnam, and a tariff truce with China. The latest step is being viewed as a renewed effort to pressure nations into reconfiguring their trade relationships with America.
