President Trump Tuesday insisted there could be “no exceptions” to his looming harsh tariffs, in a brand new flip-flop simply hours after he mentioned the brand new date was not 100% set in stone.
Trump posted that Aug. 1 is the brand new laborious deadline for the brand new tariff charges of as much as 40%, deflating expectations of extra delays after months of complicated and contradictory commerce coverage bulletins.
“There has been no change to this date, and there will be no change,” Trump mentioned on his social media web site. “In other words, all money will be due and payable starting Aug 1, 2025. No extensions will be granted.”
President Donald Trump. (Anna Moneymaker/Getty Photographs)
Trump struck a really completely different tone on tariffs Monday evening, when he mentioned it was not “100% firm” sure that the brand new tariffs would take impact on Aug. 1.
“If [the affected countries] call up and they say we’d like to do something a different way, we’re going to be open to that,” he mentioned.
Administration officers and buying and selling companions instructed that negotiations may nonetheless happen within the subsequent three weeks after Trump printed letters to 14 nations on Monday, itemizing tax charges on items imported from them to the U.S.
Markets had a muted response to the brand new assertion, with European and Asian markets rising modestly.
Wall Avenue tumbled by almost 1% Monday in response to the preliminary deadline announcement, which hit at hopes Trump would shelve plans for a commerce conflict fully.
Merchants could also be cautious of promoting shares after earlier dips had been adopted by jumps when Trump backed off tariffs, a phenomenon dubbed the “Taco trade,” an acronym for “Trump always chickens out.”
