Trump: Aug. 1 tariff deadline ‘stands strong'
'The August first deadline is the August first deadline — It stands strong, and will not be extended. A big day for America!!!' Trump posted on Truth Social.
Trump has issued letters to more than a dozen countries informing them of tariff rates they will face to export their goods into the United States beginning Aug. 1. Those include a 25 percent tariff on India, a 35 percent tariff on Bangladesh and a 50 percent tariff on Brazil, among others.
The White House has struck deals with a handful of other countries to set lower tariff rates, including with Japan, the European Union, Indonesia and the United Kingdom.
Critics have argued the details around those agreements are still scarce and have noted that the tariff rate those countries will pay, while lower than an initial threat, is still higher than it was before Trump took office.
The timing and severity of tariffs on other nations have been shifting targets since Trump took office, after he vowed on the campaign trail to aggressively impose duties on imports. He has repeatedly threatened tariffs on other nations, only to back off or delay their imposition.
The president on April 2 announced 'reciprocal' tariffs on dozens of other countries, using trade deficits to help calculate the tariff rate. But a week later, he lowered those rates to 10 percent for 90 days as markets reacted negatively, giving time for negotiations. The 90-day window was set to expire in early July, only for Trump to set a new deadline of Aug. 1.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Solve the daily Crossword
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News24
a few seconds ago
- News24
Furious Brazil judge slams Bolsonaro who treated court ‘like a fool', orders house arrest
Brazilian judge Alexandre de Moraes ordered house arrest for Jair Bolsonaro. Former president Bolsonaro is barred from using social media. The Trump administration has indicated support for Bolsonaro. A Brazilian judge on Monday placed former president Jair Bolsonaro under house arrest for breaking a social media ban, escalating a dramatic standoff between the court and the politician, who is accused of plotting a coup. Bolsonaro is on trial at the Supreme Court for allegedly plotting to cling onto power after losing 2022 elections to President Luiz Inacio Lula da Silva. US President Donald Trump has sought to punish Brazil, a longtime US ally, for what he sees as a politically motivated 'witch hunt' targeting Bolsonaro by imposing eye-watering tariffs on Latin America's biggest economy. The 70-year-old Bolsonaro is banned from social media for the duration of the proceedings, and third parties are barred from sharing his public remarks. But on Sunday, his allies defied the order by sharing footage online of a call between the former army captain and his eldest son Flavio at a solidarity rally in Rio de Janeiro. Supreme Court Justice Alexandre de Moraes reacted furiously, declaring that the judiciary would not allow a defendant to 'treat it like a fool' because of his 'political and economic power'. Criticising Bolsonaro's 'repeated failure' to comply with the court's restrictions on him during the trial, he placed him under house arrest at his home in the capital Brasilia. He also barred the country's former leader (2019-2022) from receiving visitors, apart from his lawyers, and from using mobile phones, and warned that any new transgression would lead to him being detained. Several mobile phones were seized at his home on Monday, the police said. Washington condemned the new restrictions on Monday night, with the State Department's Bureau of Western Hemisphere Affairs issuing a statement on X. 'Minister Alexandre de Moraes, already sanctioned by the United States for human rights violations, continues to use Brazilian institutions to silence the opposition and threaten democracy,' the bureau posted. Let Bolsonaro speak! US State Department US officials added that they would 'hold accountable all those who collaborate with or facilitate sanctioned conduct'. The US post was re-shared by Bolsonaro's politician son Eduardo Bolsonaro, who had successfully lobbied Washington to take punitive action against Brazil over the case. In a separate post, he wrote: 'Brazil is no longer a democracy.' He called Moraes, who is presiding over Bolsonaro's trial and has styled himself a defender of Brazilian democracy in the face of the far right, an 'out-of-control psychopath'. In July, Moraes ordered Bolsonaro to wear an ankle bracelet and instituted the social media responded in unprecedented fashion by banning Moraes from the US and freezing his assets in US banks. Trump's pressure campaign has angered many Brazilians but endeared him to Bolsonaro's conservative base. At rallies in Rio, Brasilia and Sao Paulo on Sunday, some demonstrators waved US flags or held signs reading 'Thank you Trump'. Bolsonaro himself did not attend the rallies, having been ordered by the Supreme Court to stay home at night and at weekends throughout the trial. Prosecutors say he and seven co-accused tried to overturn his 2022 election defeat in a plot that only failed because the military did not get on board. He faces a 40-year sentence if convicted at the trial, which is expected to wrap up in the coming weeks. Bolsonaro's supporters stormed Brazil's congress in January 2023, after Lula was inaugurated, ransacking the chambers and attacking police, in scenes reminiscent of an attack by Trump supporters on the US Capitol two years before. Despite being barred from running, Bolsonaro hopes to mount a Trump-style comeback in Brazil's 2026 presidential election. Lula, 79, has said he may seek a fourth term, health permitting. He was hospitalised in 2024 for a brain haemorrhage caused by a bathroom fall.
Yahoo
28 minutes ago
- Yahoo
Wall Street Journal Delivers Reality Check To MAGA: ‘Maybe Hold The Euphoria'
The Wall Street Journal on Monday urged caution among Donald Trump supporters who are all whipped up over his sweeping new tariffs on imports from other countries. In an op-ed titled 'The Trump Economy Stumbles,' the newspaper's conservative-leaning board said the 'triumphalism is palpable in MAGA land.' 'But maybe hold the euphoria, as this week's reports on jobs and the economy suggest the new golden age may take a while to appear,' it warned. The board pointed to sluggish hiring, a stalled (promised) revival in U.S. manufacturing and a shrinking foreign-born workforce ― fueled by the Trump administration's immigration crackdown ― as signs of trouble. While it acknowledged it's difficult to pinpoint the exact impact of Trump's on-off-on-off tariff hikes, it argued the uncertainty it caused is also likely to blame. Trump could help by 'stopping his trade war' or 'declaring that he's content with where they are and has no plans for more,' the board Kamala Harris Stuns Colbert With Candid Admission: 'To Hear You Say That… Is Harrowing' Trump's Latest Boast Breaks Math Brains Across The Internet Paul Krugman Warns That 'Bad Things' Are To Come After Trump's Firing Of Top Stats Official
Yahoo
28 minutes ago
- Yahoo
EU Investor Confidence Plummets
Investor confidence in Europe drops sharply after a US-EU trade deal, with fears of US gains at the eurozone's expense. New US tariffs on Brazil, Switzerland, and others add to market uncertainty as negotiations with Canada, China, and Mexico continue.
