Donald Trump recently indicated he wouldn’t be beholden to that July deadline. This deadline means reinstating big tariffs on a number of other countries. As of today, the tariffs have been on hold for the past 90 days. They’ll go back to their all-time highs unless Trump rescinds his EO. The approaching deadline has raised alarm bells for countries that trade with the U.S. This concern grows even stronger as the United States’ negotiations with the European Union have persisted.
During a press conference at the White House, Trump addressed the deadline, specifically referencing July 9, which marks the date when the U.S. and the EU must finalize a trade agreement to avoid a 50% tariff on EU imports. He expressed confidence in the negotiations, stating, “We’ve made a deal with probably four or five different countries,” yet acknowledged the complexity of dealing with “200 countries, you could say 200 countries plus” in terms of tariff implications.
The president’s comments were made as the clock counts down on the 90-day cease that started earlier this year. In late May, a federal trade court struck down Trump’s tariffs. The court found that the law he was invoking didn’t allow him to impose restrictions. Aside from this court loss, though, the Trump Administration ushered in large import taxes—many of them approaching 50%—that day on what Trump called “liberation day.”
With negotiations still ongoing, we don’t yet know how many agreements will be completed before this July deadline approaches. And finally, regarding trade, Trump touted the White House’s accomplishment of limited trade deals with China and Great Britain. However, with less than two weeks remaining in the interim period, he hinted at sending out specific tariff notices to various countries soon.
Over the course of the next week and a half, we’ll be sending out this letter. It may even sell out before that happens! We talked to many of the countries, and we’re just going to tell them what they have to pay to do business in the United States, and it’s going to go very quickly, Trump noted.
When pressed on whether July 9 was a hard deadline, Trump responded assuredly. no, we don’t have to do anything” …and slammed the door shut on any talk of compromise…he adamantly declared. This announcement further highlights his administration’s flexibility and openness to compromise as it walks the fine line of today’s tumultuous international trade relations.
Beyond the tariff issue, Trump’s administration has been criticized from all sides. He just made a pledge to sanction Spain for not meeting NATO spending goals. At a NATO press conference, too, he dismissed U.S. intelligence suggesting imminent Iranian attacks. His leadership style remains one of fierce loyalty and pandering—an approach which has earned him both praise and rebuke from legislators and foreign dignitaries.
These upcoming tariff decisions happen to line up with Trump’s effort to pass a terrible tax bill for the benefit of Republican senators. As he seeks to build momentum for this initiative, he’s been clear that strong legislative progress is essential.