TMTPOST -- U.S. President Donald Trump on Tuesday insisted he doesn’t intend to grant any extension for the July 9 deadline for higher reciprocal tariffs.
Credit：China Central Television
“No, I’m not thinking about the pause,” Trump said aboard Air Force One when asked about whether he would extend the negotiating period with trading partners, according to Bloomberg. “I’ll be writing letters to a lot of countries,” he continued, reiterating his plan to notify trading partners about the U.S.tariff rates they will face without further negotiations.
Trump said in a social media post on April 9 that he has authorized a 90-day pause and “a substantially lowered reciprocal tariff” of 10% during this period, both effective immediately. The decision was made as more than 75 countries have called the U.S. to negotiate a solution to trade, trade barriers, tariffs, currency manipulation, and non-monetary tariffs, and these countries have not retaliated against the U.S., Trump wrote.
Trump recently has suggested he would stick to the July 9 deadline. In an interview with Fox News broadcast on Sunday, Trump said he doesn’t think he will need to extend the deadline and his administration would notify countries that they have to face higher tariffs unless they strike deals with the U.S.
“We’ll look at how a country treats us — are they good, are they not so good — some countries we don’t care, we’ll just send a high number out,” said Trump. He said letters to notify countries about future trade penalties will start going out soon before the July 9 deadline. Letters would say, “Congratulations, we’re allowing you to shop in the United States of America, you’re going to pay a 25% tariff, or a 35% or a 50% or 10%,” said the president.
Trump stressed his intention to stick to the July 9 deadline came as his team was said to cut back their expectations for comprehensive trade deals. Top U.S. trade officials are seeking agreements with narrower focus to meet the July deadline, the Financial Times reported earlier Tuesday.
It was reported the officials were seeking phased deals with the most engaged countries by July 9, and countries agree on such deals would be spared steeper reciprocal tariffs, but left with an existing 10% baseline levy while talks on thornier issues continue. The Trump administration would seek “agreements in principle” on a small number of trade disputes, and it is also considering imposing extra tariffs on critical sectors, per the report.
U.S. Treasury Secretary Scott Bessent said in a Bloomberg interview on Monday that he expects U.S. will make “a flurry” of trade deals with trading partners ahead of the July 9 deadline, which is when the Trump administration’s reciprocal tariffs return to higher levels from the baseline level 10%. But he warned that "recalcitrant" countries that their tariff levels could soon snap back to the levels announced on April 2, a date U.S. President Donald Trump proclaimed “Liberation Day”.
"We have countries that are negotiating in good faith, but they should be aware that if we can't get across the line because they are being recalcitrant, then we could spring back to the April 2 levels. I hope that won't have to happen," Bessent said. He added that any potential extensions will be Trump’s decision.
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