Trump confirms August 1 deadline for tariffs on US trading partners with ‘no extensions’
After days of speculation, US president says increased tariffs on numerous trading partners take effect on August 1 with no further delays
US President Donald Trump said on Tuesday he would officially extend until August 1 his declared deadline to impose “reciprocal” tariffs on dozens of economic partners, indicating that this time he really meant it.
The move keeps Trump’s negotiating leverage at a boil even as it imposes additional uncertainty on the global economy amid new fears of a trade war.
The US president also said during a cabinet meeting Tuesday he would impose a 50 per cent tariff on imported copper and planned to slap long-threatened levies on pharmaceuticals and semiconductors.
Trump added that ties with Beijing have improved.
“We have had a really good relationship with China lately, and we’re getting along with them very well,” he said, adding that he was speaking regularly with Chinese President Xi Jinping. “They’ve been very fair on our trade deal, honestly,” he added.