Trump plans to delay tariff start to August 1 as he announces 25% levy for Japan and South Korea
Trump is delaying his tariffs again
- President Donald Trump has once again delayed the implementation of sweeping import tax hikes, pushing the deadline to 1 August.
- This postponement is coupled with letters sent to leaders of various nations, including Japan and South Korea, threatening tariffs of 25% to 40% unless trade deficits are reduced.
- White House Press Secretary Karoline Leavitt confirmed an executive order would formalise the delay, stating the administration aims to secure optimal trade deals for the American people.
- Trump falsely claimed that these tariffs are paid by foreign governments, despite them being import taxes levied on American importers, which often result in higher consumer prices.
- Following the announcement, American stock markets, including the S&P 500, Dow Jones Industrial Average, and Nasdaq, experienced declines.