Trump Signs Executive Order to Delay Tariff Deadline to August 1 Amid Slow Trade Progress
U.S. President Donald Trump signed an executive order on Monday extending the deadline for implementing his so-called “reciprocal” trade tariffs from July 9 to August 1, as the administration acknowledged only limited progress in securing new trade agreements.
Over the past few days, both Trump and senior White House officials had pointed to August 1 as the likely new deadline, given the sluggish pace of negotiations with major trading partners.
The executive order formalizes that date, which the administration refers to as “liberation day,” when Trump’s planned tariffs on leading economies are set to take effect. The president has begun issuing letters outlining tariff plans, including a 25% duty on imports from countries such as South Korea and Japan.
At a White House event, Trump told reporters that while he is committed to the August 1 timeline, it isn’t set in stone, and he remains open to continued trade discussions.
Financial markets remain jittery about the potential fallout, with analysts warning that the costs of the tariffs are likely to fall on U.S. importers. The Federal Reserve has also cautioned that such measures could contribute to rising inflation.
