Trump Extends Tariff Deadline, Warns No More Delays

President Donald Trump has postponed the implementation of significant new U.S. tariffs to August 1, extending the prior deadline of July 9 and declaring there will be no further extensions. The announcement has increased uncertainty for global markets, as countries such as Japan, South Korea, and the EU attempt to secure exemptions or reduced rates in the face of potential tariffs as high as 50%. Only a limited number of trade agreements have been finalized, leaving many U.S. trading partners and industries in a state of uncertainty. U.S. business leaders, especially in the technology and automotive sectors, warn of potential supply chain disruptions and economic risks if the tariffs take effect. Legal challenges and market volatility have accompanied the ongoing negotiations. While Trump frames the tariffs as a strategy to strengthen U.S. manufacturing and reduce the trade deficit, many economists caution that the measures could result in price hikes and broader economic harm.