Trump pumps the brakes on ‘Liberation Day’ tariffs — again
President Donald Trump is set to sign an executive order on Monday that will delay the implementation of his “Liberation Day” tariffs until August 1. The decision comes amid ongoing trade negotiations, with White house Press Secretary Karoline Leavitt stating that new reciprocal tariff rates will be communicated to foreign leaders shortly. This marks the second extension of the tariffs since thier announcement on April 2,with the first delay pushing the deadline to July 9. So far, few deals have been finalized, but letters have been sent to leaders of Japan and South Korea informing them of an impending 25% tariff unless an agreement is reached beforehand. Critics view the delay as a withdrawal from trade threats, while the administration insists that it is focused on securing more favorable trade deals with multiple countries.
Trump to sign executive order delaying ‘Liberation Day’ tariffs to Aug. 1
President Donald Trump will sign an executive order Monday delaying his “Liberation Day” tariffs until Aug. 1.
“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,” White House press secretary Karoline Leavitt said Monday. “Or deals will be made.”
This is the second deadline extension since the tariffs were announced on April 2. The first was to July 9, when the administration touted a goal of reaching 90 deals in 90 days. Only a small handful of deals have emerged in that time frame, including with the United Kingdom, China, and Vietnam.
But Trump has been busy in the meantime. Leavitt held letters he’d sent to the leaders of Japan and South Korea that said they will soon face 25% tariffs, though that figure will not emerge if they reach a deal with the United States ahead of the deadline.
Trump sends letters to Japan and South Korea announcing 25% tariffs on Aug. 1
“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,” Leavitt said. “That’s what this administration continues to be focused on.”
Trump also announced an additional 10% tariff on the “anti-American” BRICS organization, upping the ante with several major trading partners as he continues his trade negotiation regime.
The delay could further a narrative that Trump always “chickens out” or backs down on his trade threats, leading to the nickname “TACO” to describe his tariff threats. The administration counters that it is negotiating better deals and that its deadlines are to be taken seriously.
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