US President Donald Trump said he would not offer any further extensions to a new August 1 deadline for nations to start paying reciprocal tariffs.
Trump took to truth social and said, “TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change. In other words, all money will be due and payable starting AUGUST 1, 2025 - No extensions will be granted.”
The Trump administration started notifying trading nations of the revised rates on Monday ahead of the negotiation deadline.
The White House sent formal letters to heads of 14 countries, including Japan and South Korea, announcing new tariffs ranging from 25% to 40% on imports.
Earlier, the Trump administration extended the suspension of its reciprocal tariffs, initially announced on April 2, until August 1, offering temporary relief to exporters and allowing more time for trade negotiations. The suspension, which was set to expire on July 9, was extended through an executive order issued by the White House.
