Trump to sign executive order delaying July 9 tariff deadline to August 1: White House – OXBIG NEWS NETWORK

Washington, DC [US], July 8 (ANI): US President Donald Trump will sign an executive order delaying his July 9 tariff deadline to August 1, the White House announced on Monday (local time).

While addressing a press briefing on Monday (local time), Leavitt stated that 12 other nations, in addition to South Korea and Japan, will receive letters and notifications regarding tariffs from Trump. She recalled how she had announced that Trump was going to create tailor-made trade plans for each nation. She stated that the Trump administration wants to have the best deals for the American people.

When asked why Trump decided to delay the tariffs originally scheduled to take effect on July 9 and whether other US trading partners will receive letters on tariffs apart from Japan and South Korea, Leavitt responded, “Yes, I can confirm. In fact, I have those letters… I have the signed letters that went out to both South Korea and Japan today. There will be approximately 12 other countries that will receive notifications and letters directly from the President of the United States. Weeks ago, I stood at this podium and I told all of you that the President was going to create tailor-made trade plans for each and every country on this planet.”

“The President will also sign an executive order today delaying the July 9th deadline to August 1st. So the reciprocal tariff rate or these new rates that will be provided in this correspondence to these foreign leaders will be going out the door within the next month or deals will be made and those countries continue to negotiate with the United States. We’ve seen a lot of positive developments in the right direction. But, the administration, the president and his trade team want to cut the best deals for the American people and the American worker. That’s what they’re focused on and in the effort of transparency, these letters will continue to be posted to Truth Social. So, you can enjoy them yourself,” she added.

Trump announced on Monday that his administration would impose a 25 per cent tariff on imports from South Korea and Japan, effective August 1, as part of a series of letters being sent to foreign nations, The Hill reported.

Trump has shared details regarding expected tariff rates in letters to the South Korean President and the Japanese Prime Minister. He shared details regarding tariffs on his social media platform, Truth Social, as well. Previously, Trump indicated he would send letters to several nations on Monday.

“Please understand this 25 per cent number is far less than what is needed to eliminate the Trade Deficit disparity we have with your Country,” Trump wrote to the two nations, The Hill reported.

Trump warned that if either nation increased its tariffs in response, the US would raise its tariffs by the same amount.

In a letter to his South Korean counterpart, Trump wrote, “As you are aware, there will be no Tariff if Korea, or companies within your Country, decide to build or manufacture product within the United States and, in fact, we will do everything possible to get approvals quickly, professionally, and routinely – in other words, in a matter of weeks.”

He also shared details regarding tariffs with Japan’s PM.

Under the “Liberation Day” tariffs announced on April 2, South Korea was subject to a 25 per cent tariff and Japan was hit with a 24 per cent tariff. So, announcements made on Monday amount to an extension of the negotiation deadline, which was scheduled for Wednesday.

The 90-day deadline Trump set for nations to make trade deals with the US or face higher tariffs is scheduled to end on July 9, CNN reported. On April 2, Trump unveiled new “reciprocal” tariff rates for key US trading partners, with some tariffs as high as 50 per cent. Collectively, the tariffs were the highest the US has charged on foreign goods in over 100 years, CNN reported.

After the tariffs took effect on April 9, they led to a sell-off on Wall Street, and the bond market rebelled, prompting Trump to announce a three-month pause to give nations more time to negotiate with the US. (ANI)

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