US Extends Tariff Deadline to August 1, Increases Levies on Multiple Countries

President Donald Trump has extended the deadline for imposing reciprocal tariffs on several countries to August 1, 2025, providing more time for trade negotiations, particularly with India and other trading partners. While announcing a 25 percent tariff on imports from Japan and South Korea, as well as duties ranging from 25 to 40 percent on countries including Indonesia, Bangladesh, Thailand, South Africa, and Malaysia, Trump indicated some flexibility on the deadline, leaving room for further negotiations if alternative offers are presented. The tariffs, initially suspended for 90 days after being announced on April 2, are set to resume with increased rates, reflecting Trump's goal of addressing persistent trade imbalances. The White House has announced that additional countries will receive similar notifications and letters about tariff plans. Meanwhile, South Korea is actively coordinating a governmental response, with high-level officials meeting and engaging in talks in Washington to address the tariffs and broader alliance issues. Trump emphasized the need for fairness in trade, criticizing longstanding trade deficits and signaling readiness to negotiate but maintaining a firm stance on tariffs to achieve reciprocal trade agreements.