Trump Reveals No-Extension Tariffs Effective August 1
(MENAFN) US President Donald Trump announced Tuesday that tariffs detailed in recently issued letters will take effect starting August 1, 2025, with no possibility of extension.
“As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025,” Trump declared on social media.
He emphasized, “There has been no change to this date, and there will be no change. In other words, all money will be due and payable starting AUGUST 1, 2025 - No extensions will be granted.”
The previous day, Trump shared tariff letters assigning specific rates ranging from 25% to 40% to 14 nations, including Tunisia, South Korea, Malaysia, Kazakhstan, Japan, South Africa, Bosnia and Herzegovina, Indonesia, Serbia, Bangladesh, Thailand, Cambodia, Myanmar, and Laos.
Addressed directly to these countries’ leaders, the letters criticized their trade relations with the US, stating, “Our relationship has been, unfortunately, far from Reciprocal."
Trump encouraged these countries to manufacture goods domestically within the US as a strategy to avoid tariffs, while noting that the imposed tariffs were still “far less than” necessary to completely rectify trade imbalances.
He also cautioned that tariffs could be increased beyond the current rates if these nations retaliate with their own tariffs on American products.
Additionally, Trump signed an executive order extending the existing tariff grace period from its original July 9 expiration to August 1.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
