July 9 US trade tariffs deadline to be postponed? Will Donald Trump 'chicken out' this time?

6 hours ago

US trade tariffs deadline is approaching and all eyes are now on Donald Trump whether the President decides to delay the scheduled dates or not.
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July 9 Trump tariffs deadline for trade agreement is almost here everyone from US Stock Market investors to commoners want to whether the scheduled date will be extended or not. The tariffs were part of a broader announcement in April where Trump imposed a 10 per cent duty on goods from almost all trading partners, with a plan to step up these rates for a select group within days. But he swiftly paused the hikes until July 9, allowing for trade talks to take place. Countries have been pushing to strike deals that would help them avoid these elevated duties. So far, the Trump administration has unveiled deals with the United Kingdom and Vietnam, while Washington and Beijing agreed to temporarily lower staggeringly high levies on each other's products. As his July 9 deadline approaches, Trump has repeatedly said he plans to inform countries of US tariff rates by sending them letters.US tariffs will kick in on August 1 if trading partners from Taiwan to the European Union do not strike deals with Washington, Treasury Secretary Scott Bessent said Sunday. The rates will "boomerang back" to the sometimes very high levels which President Donald Trump had announced on April 2 -- before he suspended the levies to allow for trade talks and set a July 9 deadline for agreement, Bessent told CNN.Bessent confirmed comments by Trump to reporters aboard Air Force One on Friday in which he also cited a new deadline: "Well, I'll probably start them on August 1. Well, that's pretty early. Right?" The president said he had signed 12 letters to be sent out, likely on Monday."It's not a new deadline. We are saying, this is when it's happening, if you want to speed things up have at it. If you want to go back to the old rate that's your choice," he said.He said the playbook was to apply "maximum pressure" and cited the European Union as an example, saying they are "making very good progress" after a "slow start."Aboard Air Force One on Friday, Trump said sending notices would be much easier than "sitting down and working 15 different things... this is what you have to pay, if you want to do business (with) the United States."A1. US Tariffs deadline will end on July 9.A2. Donald Trump announced tariffs on April 2.

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Countries like India that are negotiating with the US in good faith could see tariffs delayed: Top US official

United News of India

17 minutes ago

United News of India

Countries like India that are negotiating with the US in good faith could see tariffs delayed: Top US official

Washington, July 6 (UNI) Chair of the White House Council of Economic Advisers Stephen Miran has said that some countries, like India, that are negotiating with the United States in good faith could see tariffs delayed as President Donald Trump's July 9 deadline to strike trade deals closes in. Speaking with ABC News' "This Week", Miran did not reveal what deals are in the works. 'I'm still optimistic that we're going to get a number of deals later this week. Part of that is because all the negotiating goes through a series of steps that lead to a culmination timed with the deadline,' Miran said. Pressed on if these other deals fail to come through and if Trump would extend the deadline, Miran indicated that could be possible. 'Well, my expectation would be that countries that are negotiating in good faith and making the concessions that they need to get to a deal, but the deal is just not there yet because it needs more time, my expectation will be that those countries get a roll, you know, sort of get the date rolled,' he said. Asked which countries could see that date shifted, Miran refused to elaborate, but said that he "has heard good things about talks with Europe and India". 'I would expect that a number of countries that are in the process of making those concessions, you know, they might see their date rolled. For the countries that aren't making concessions, for the countries that aren't negotiating in good faith, I would expect them to sort of see higher tariffs,' Miran added. According to reports, the Trump administration is stepping up pressure on trading partners to quickly make new deals before the Wednesday deadline, with the United States to start sending letters on Monday warning countries that higher tariffs could kick in August 1. Kevin Hassett, director of the White House National Economic Council, told CBS News that Trump would decide when it was time to give up on negotiations. 'The United States is always willing to talk to everybody about everything,' Hassett said. 'There are deadlines, and there are things that are close, so maybe things will push back past the deadline or maybe they won't. In the end the president is going to make that judgment.' UNI RN

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Time of India

33 minutes ago

Time of India

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