What to know about Trump’s shifting tariff deadline

Source: ABC News – Breaking News, Latest News and Videos | Original Published At: 2025-07-07 18:00:21 UTC

Key Points

• Trump delayed reciprocal tariffs to August 1, affecting dozens of countries.
• New 25% tariffs on South Korea and Japan announced, with 12 additional countries to receive notifications.
• Only three trade agreements reached so far: UK, Vietnam, and preliminary China deal.
• Threat of 10% tariffs on BRICS-aligned nations mentioned.
• Current effective tariff rate estimated at 15%, down from April's levels but higher than pre-Trump rates.

President Donald Trump on Monday will sign an executive order delaying steep levies on dozens of countries that were set to take effect on Wednesday, the White House said.

Trump’s so-called reciprocal tariffs will now take effect on Aug. 1, White House press secretary Karoline Leavitt told reporters. Minutes earlier, Trump announced 25% tariffs on South Korea and Japan that would take effect at the start of August. Twelve additional countries would receive notifications Monday about new tariffs, Leavitt said.

Trump delayed the “reciprocal tariffs” in April, vowing to strike roughly 90 trade deals in 90 days. So far, the White House says it has reached trade agreements with only the United Kingdom and Vietnam, as well as a preliminary accord with China.

“The president and his trade team want to cut the best deals for the American people and the American worker,” Leavitt said. The return of the policy would dramatically hike tariffs on dozens of trade partners. Examples include a 49% tariff on Cambodia and a 37% tariff on Bangladesh.

On Wednesday, the 90-day suspension was set to expire. The vast majority of nations targeted by the tariffs had yet to strike a trade agreement with the U.S., meaning the deadline could have brought back the slate of tariffs that had triggered the April stock selloff.

The White House on Monday said it plans to push back the July 9 deadline. The announcement came after U.S. Treasury Secretary Scott Bessent on Sunday said the Trump administration planned to send letters to about 100 countries, warning that high tariffs could return at the start of next month.

In a separate social media post on Monday, Trump threatened to place an additional 10% tariff on countries that align with BRICS nations, suggesting he had not backed off his commitment to levies. BRICS nations, which recently voiced “serious concerns” about unilateral tariffs, are made up of founding members Brazil, Russia, India and China, among a few others.

In recent weeks, Trump has dialed back some of his steepest tariffs. Another batch of tariffs remains in legal limbo following a pair of federal court rulings in May, though the levies remain in place for now.

A trade agreement last month between the U.S. and China slashed tit-for-tat tariffs between the world’s two largest economies. Still, an across-the-board 10% tariff applies to nearly all imports, except for semiconductors, pharmaceuticals and some other items.