Is Trump extending the tariff deadline for countries?
Asked 7 hours ago
Answer
President Trump is warning that higher tariffs will take effect August 1 if countries do not finalize trade deals, but there is flexibility in the deadline for those making progress. The administration is sending letters to many countries, urging quick agreements, and may allow the deadline to slip for nations close to a deal. Only a few countries have reached agreements so far, while most others face the possibility of increased tariffs if negotiations stall.
References
President Trump is giving major trading partners a few more weeks to finalize deals before August 1, warning that tariff rates will increase if no agreement is reached. There is some flexibility, as the deadline could be extended if progress is being made.
President Trump is sending letters to trading partners stating that if they do not move negotiations along, tariffs will revert to previous higher levels on August 1. The administration is primarily focused on countries with the largest trade deficits.
