On Sunday, President Trump seemed to downplay the idea of extending the July deadline concerning tariffs.
After implementing a 90-day extension in April with his “liberation day” tariffs, his administration has reportedly struck deals with various countries, including the UK.
While Trump showed last week that he might be open to adjusting deadlines, his comments on Sunday suggested a different approach.
“It’s very simple,” he stated in a taped interview with Fox News. “We send out letters. I’d prefer to do it now. We have made a deal. But I want to send them a fair letter saying, ‘Congratulations, you can trade in the United States.’
“I’m going to pay 25% customs duties or 20% or 40% or 50%. I want to do that,” he added.
He confirmed a July 8 deadline for many countries, cutting the July 9 date for Europe, warning that otherwise they could face tariffs of 50%.
When pressed by Fox on whether he would extend the deadline, Trump said, “I don’t think I need to do that; it’s a big deal.”
He drew comparisons between tariff statuses and the 90-day extensions, mentioning TikTok’s Chinese parent company, Baytedan, and its plans for selling the U.S. version of the app.
“It’s like TikTok. I’m expanding it, you know, but we have TikTok buyers,” he noted. “I think it’s probably necessary to have China’s approval, and I believe President Xi will likely agree. Who is the buyer? We’ll talk about it in about two weeks.”
Last week, when asked if the tariff deadline was fixed, Trump told reporters:
“We’ve been able to extend it and also shorten it.
“We’ve likely signed contracts with four or five different countries,” he elaborated.
Treasury Secretary Scott Bescent emphasized that the Trump administration is especially focused on its top 18 trading partners.
Since the start of the year, Trump has enforced a 25% tariff on most imports, including auto parts and foreign-made vehicles, as well as 25% on foreign steel and aluminum, and similar tariffs on imports from Canada and Mexico not covered by the US-Canada agreement.
Additionally, Trump has threatened to impose a staggering 55% tariff on China. There’s a baseline of 10% to 20% related to the fentanyl crisis, amid existing tariffs of 25%.
Last week, he announced the halting of trade discussions with Canada in response to taxes affecting U.S. digital services.
