https://www.wsj.com/economy/trade/trump-tariffs-deadline-august-trade-war-e916eb77?mod=hp_lead_pos1
Trump Pushes Global Trade War Back to the Top of His Agenda
President rolls out new deadline, rates and letters
By Gavin Bade and Brian Schwartz, The Wall Street Journal, July 7, 2025
President Trump reignited his global trade war Monday (7/7/25), renewing his threat to hit partners with punishing tariffs even as he announced a three-week extension to negotiate deals.
White House press secretary Karoline Leavitt said Trump would sign an executive order extending the date when his so-called reciprocal tariffs would take effect, previously scheduled to expire at 12:01 a.m. Wednesday [in 2 days]. Additionally, Trump sent letters to a handful of nations outlining tariff rates they would pay if they didn’t strike trade deals with the U.S. by Aug. 1…
…Japan’s new 25% rate…Myanmar’s rate would be 40% on Aug. 1, down from 44%, while Laos’s would fall to 40% from 48%. Kazakhstan’s rate would fall from 27% to 25%.
Malaysia’s new rate would rise to 25% from the 24% announced on Liberation Day, just like Japan’s, while South Africa’s rate would stay constant at 30%, as would South Korea’s at 25%. The administration didn’t explain why some rates changed.
The reciprocal tariffs wouldn’t be applied to products that are covered under Trump’s separate national-security tariffs, a White House official said. So far, the president has applied 50% national-security tariffs on steel and aluminum, and 25% on automobiles. Similar tariffs for semiconductors, lumber, critical minerals and copper are being studied by the Commerce Department. … [end quote]
Will tariffs actually be imposed on August 1? Or is this just another head-fake to get deals?
Wendy