White House Pushes Back Tariff Deadline, Issues Trade Letters to 12 Nations as Global Negotiations Intensify

The White House announced Monday that President Trump will sign an executive order delaying the imposition of sweeping new tariffs from July 9 to August 1, 2025. This move comes as the administration scrambles to finalize trade agreements and mitigate economic fallout from its aggressive tariff strategy.

 

Key Highlights

 

•⁠  ⁠Formal letters have been sent to 12 countries, including Japan and South Korea, notifying them of new tariffs set to take effect August 1. The letters cite persistent trade deficits and warn that all goods entering the US—regardless of sector—will face higher duties unless reciprocal trade terms are met.

 

•⁠  ⁠The new tariffs include a 25% blanket rate on imports from Japan and South Korea, with specific adjustments for other countries such as Kazakhstan, Laos, and Myanmar. The White House made clear that any attempts to circumvent these tariffs through transshipment would trigger even higher rates.

 

•⁠  ⁠The administration has reached only two preliminary trade deals so far, with Britain and Vietnam, and is reportedly close to announcing additional agreements, including a foundational framework with India. Countries that secure deals may receive lower tariff rates.

 

•⁠  ⁠US officials say the delay is intended to give more time for negotiations, but financial markets responded negatively, with US stocks and Japanese and South Korean ETFs falling sharply. The White House maintains that the tariffs are necessary to address what it calls unfair trade barriers and large US trade deficits.

 

•⁠  ⁠The EU will not receive a tariff letter, and the White House says more trade announcements are imminent as talks with other partners continue.

 

Sources: The New York Times, Financial Express, Forbes, NBC News, Independent