Tariff latest: Trump signs order delaying deadline to Aug. 1

Pres. Trump to send tariff letters to countries

President Trump spoke to members of the media at Joint Base Andrews after returning from Iowa and shared that he will begin sending letters to countries on Friday specifying what tariff rates they will face on imports to the United States.

The United States is stepping up pressure on trading partners to quickly make new deals before a tariff pause expires.

Tariff deadline

Big picture view:

President Trump began sending letters on Monday to countries detailing their upcoming tariffs with a warning that they would kick in Aug. 1 if a deal isn’t reached.

Letters detailing a 25% tax were sent to Japan and South Korea, White House spokesperson Caroline Leavitt said. 

The president also announced he would impose new tariff rates for:

• Malaysia (25%)
• Kazakhstan (25%)
• South Africa (30%)
• Laos (40%)
• Myanmar (40%)
• Cambodia (36%
• Thailand (36%)
• Serbia (35%)
• Bangladesh (35%)
• Indonesia (32%)
• Bosnia (30%)
• Herzegovina (30%)
• Tunisia (25%)

For context:

In April, Trump’s administration delayed for 90 days new tariffs that had just been announced, putting the implementation date at July 9. The negotiating window has led to announced deals with the United Kingdom and Vietnam. 

What's next:

Leavitt said Trump would be signing an executive order Monday that will delay the July 9 deadline to Aug. 1. 

"So the reciprocal tariff rate - or these new rates that will be provided in these correspondence to these foreign leaders - will be going out the door within the next month. More deals will be made, and those countries continue to negotiate with the United States," she said. 

Why you should care:

Financial and economic uncertainty looms as for what the trade repercussions will be for American companies and consumers. 

Trump’s tariffs

FILE - President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs during an event in the Rose Garden entitled "Make America Wealthy Again" at the White House in Washington, DC, on April 2, 2025. (Photo by Brendan Smialowski/AFP

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Big picture view:

Trump imposed elevated tariff rates on dozens of nations that run meaningful trade surpluses with the U.S., and a 10% baseline tax on imports from all countries in response to what he called an economic emergency. There are separate 50% tariffs on steel and aluminum and a 25% tariff on autos.

The backstory:

The steeper tariffs that Trump announced April 2 threatened to overhaul the global economy and lead to broader trade wars. 

A week later, after the financial markets had panicked, his administration suspended for 90 days most of the higher taxes on imports just as they were to take effect.