Trump signals no extension for July 9 tariff deadline as date approaches closer
President Trump has indicated he likely won't extend the July 9 deadline for trading partners to secure deals with the United States and avoid steep 25% tariffs.
In a taped Friday interview aired Sunday on Fox News' "Sunday Morning Futures," Trump stated: "I don't think I'll need to" extend the cutoff, though he added, "I could, no big deal." This follows his Friday remarks to reporters suggesting he might shorten the deadline instead, quipping he'd prefer to "send letters out to everybody, 'Congratulations, you're paying 25%.'"
According to Bloomberg, the Trump administration initiated this pressure campaign earlier this year, demanding trading partners reduce deficits and eliminate barriers during the negotiation window before April's suspended country-based tariffs reactivate.
Conflicting signals emerged within the administration regarding the feasibility of the deadline. Treasury Secretary Scott Bessent acknowledged on Fox Business that while "countries are approaching us with very good deals," completing agreements with all major partners by July 9 appears unlikely. Bessent projected a more realistic wrap-up by Labor Day, suggesting "10 or 12 of the important 18" relationships might be finalized first. The comments highlight the gap between Trump's aggressive public stance and the complex reality of simultaneous negotiations with dozens of nations.
Trade teams remain active, including recent Washington meetings with Indian officials, a country Trump singled out as nearing a potential agreement.
Significant questions persist about the depth of agreements achievable by either deadline. The much-touted UK trade pact still contains unresolved critical issues, while the recently finalized China deal leaves gaps regarding fentanyl trafficking enforcement and market access for U.S. exporters. These examples underscore concerns that deals struck under deadline pressure may lack comprehensiveness.
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