Trump to sign executive order delaying July 9 tariff deadline to August 1: White House

Wahington, DC [US], July 8 (ANI): US Preident Donald Trump will ign an executive order delaying hi July 9 tariff deadline to Augut 1, the White Houe announced on Monday (local time).
While addreing a pre briefing on Monday (local time), Leavitt tated that 12 other nation, in addition to South Korea and Japan, will receive letter and notification regarding tariff from Trump. She recalled how he had announced that Trump wa going to create tailor-made trade plan for each nation. She tated that the Trump adminitration want to have the bet deal for the American people.
When aked why Trump decided to delay the tariff originally cheduled to take effect on July 9 and whether other US trading partner will receive letter on tariff apart from Japan and South Korea, Leavitt reponded, Ye, I can confirm. In fact, I have thoe letter... I have the igned letter that went out to both South Korea and Japan today. There will be approximately 12 other countrie that will receive notification and letter directly from the Preident of the United State. Week ago, I tood at thi podium and I told all of you that the Preident wa going to create tailor-made trade plan for each and every country on thi planet.
The Preident will alo ign an executive order today delaying the July 9th deadline to Augut 1t. So the reciprocal tariff rate or thee new rate that will be provided in thi correpondence to thee foreign leader will be going out the door within the next month or deal will be made and thoe countrie continue to negotiate with the United State. Weve een a lot of poitive development in the right direction. But, the adminitration, the preident and hi trade team want to cut the bet deal for the American people and the American worker. That what theyre focued on and in the effort of tranparency, thee letter will continue to be poted to Truth Social. So, you can enjoy them yourelf, he added.
Trump announced on Monday that hi adminitration would impoe a 25 per cent tariff on import from South Korea and Japan, effective Augut 1, a part of a erie of letter being ent to foreign nation, The Hill reported.
Trump ha hared detail regarding expected tariff rate in letter to the South Korean Preident and the Japanee Prime Miniter. He hared detail regarding tariff on hi ocial media platform, Truth Social, a well. Previouly, Trump indicated he would end letter to everal nation on Monday.
Pleae undertand thi 25 per cent number i far le than what i needed to eliminate the Trade Deficit diparity we have with your Country, Trump wrote to the two nation, The Hill reported.
Trump warned that if either nation increaed it tariff in repone, the US would raie it tariff by the ame amount.
In a letter to hi South Korean counterpart, Trump wrote, A you are aware, there will be no Tariff if Korea, or companie within your Country, decide to build or manufacture product within the United State and, in fact, we will do everything poible to get approval quickly, profeionally, and routinely - in other word, in a matter of week.
He alo hared detail regarding tariff with Japan PM.
Under the Liberation Day tariff announced on April 2, South Korea wa ubject to a 25 per cent tariff and Japan wa hit with a 24 per cent tariff. So, announcement made on Monday amount to an extenion of the negotiation deadline, which wa cheduled for Wedneday.
The 90-day deadline Trump et for nation to make trade deal with the US or face higher tariff i cheduled to end on July 9, CNN reported. On April 2, Trump unveiled new reciprocal tariff rate for key US trading partner, with ome tariff a high a 50 per cent. Collectively, the tariff were the highet the US ha charged on foreign good in over 100 year, CNN reported.
After the tariff took effect on April 9, they led to a ell-off on Wall Street, and the bond market rebelled, prompting Trump to announce a three-month paue to give nation more time to negotiate with the US. (ANI)