We can do whatever we want: Trump says deadline for reciprocal tariffs not fixed
US President Donald Trump said that the July 9 deadline for reimposing broad tariffs on imports may not be set in stone. Speaking at the White House, Trump said the date could be moved forward or backward, depending on how trade talks progress.'We have full flexibility. We can shorten the timeline, or extend it. Personally, I'd prefer to move quickly,' Trump said. 'I'd love to just notify everyone: Congratulations, you're now paying 25 per cent.'advertisementTreasury Secretary Scott Bessent signalled the possibility of an extended timeline, suggesting that agreements might still be reached by Labor Day.
After a week dominated by the US strike on Iran's nuclear facilities and intense debate over a major tax and spending package in Congress, the Trump administration has ramped up its trade efforts. On Thursday, the US submitted a fresh proposal to the European Union, while India dispatched a delegation to Washington to continue trade discussions.'We're seeing strong interest from countries offering solid deals,' Treasury Secretary Scott Bessent said in an interview with Fox Business Network.'We've got 18 key trading partners. If we can finalize agreements with 10 or 12 of them, and we're already engaging with another 20 significant economies, we could have trade wrapped up by Labor Day,' Bessent added.advertisementEarlier on Thursday, White House Press Secretary Karoline Leavitt told reporters that the administration is open to shifting the July 8–9 tariff deadlines, calling them 'not critical.' She emphasised that President Trump retains the authority to move those dates as he sees fit."If countries don't come to the table, the president has the option to simply present them with a deal," Leavitt said, noting that this could involve setting reciprocal tariffs deemed favourable to US interests and workers.Markets responded positively to Leavitt's comments, with stocks climbing to session highs amid optimism that a more flexible approach could avert trade disruptions.In April, the president introduced a system of reciprocal tariffs on nearly all foreign imports. However, a 90-day grace period, expiring July 8, was granted on any tariffs exceeding 10 per cent, providing countries time to negotiate.By late May, Trump escalated his stance, threatening tariffs of up to 50 per cent on goods from the European Union, which had already been hit by the earlier round of tariffs.- EndsWith inputs from ReutersTune InMust Watch
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