Trump Delays Tariffs, Sends Trade Letters to Multiple Nations

President Donald Trump will sign an executive order, delaying the July 9 tariff deadline to August 1, according to a White House announcement.

During a press briefing, Leavitt stated that in addition to South Korea and Japan, 12 other nations will receive letters and notifications regarding tariffs from Trump. She reiterated that Trump intended to create customized trade plans for each nation, emphasizing the administration's goal of securing the best deals for the American people.

When questioned about the delay and the distribution of tariff letters, Leavitt confirmed the letters had been sent to South Korea and Japan. She also mentioned that approximately 12 other countries would receive notifications and letters directly from the President. She recalled her previous statement about the President's intention to create tailored trade plans for each country. The President will sign an executive order today delaying the July 9th deadline to August 1st.

Trump announced on Monday that his administration would impose a 25 per cent tariff on imports from South Korea and Japan, effective August 1, as part of a series of letters being sent to foreign nations.

Trump shared details regarding expected tariff rates in letters to the South Korean President and the Japanese Prime Minister. He also shared details regarding tariffs on his social media platform. Previously, Trump indicated he would send letters to several nations on Monday.

Trump warned that if either nation increased its tariffs in response, the US would raise its tariffs by the same amount. In a letter to his South Korean counterpart, Trump wrote that there would be no tariff if Korea, or companies within the country, decided to build or manufacture product within the United States.

Under the 'Liberation Day' tariffs announced on April 2, South Korea was subject to a 25 per cent tariff and Japan was hit with a 24 per cent tariff. The announcements made on Monday amount to an extension of the negotiation deadline, which was scheduled for Wednesday.