Particle.news
Download on the App Store
39 ARTICLES
·
yesterday

Trump Rejects Extension of July Tariff Moratorium in Favor of Unilateral Letters

Limited interim frameworks with China and the UK have failed to quell warnings of Chinese countermeasures or calls from EU leaders for a deadline extension.

FILE - President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, on April 2, 2025, in Washington. (AP Photo/Mark Schiefelbein, File)
Canadian Prime Minister Mark Carney (L) and US President Donald Trump (File)

Overview

  • President Trump has ruled out extending the July 9 cutoff for his 90-day pause on reciprocal tariffs.
  • He plans to send personalized letters to non-deal partners assigning fixed duties of 25%, 35% or 50% based on trade deficits and bilateral treatment.
  • Only two interim framework agreements have been reached so far, covering China and the United Kingdom against a target of 90 deals in 90 days.
  • Treasury Secretary Scott Bessent has privately indicated that deadlines could be extended for countries negotiating in good faith.
  • China’s Commerce Ministry has warned of “firm, resolute countermeasures,” while France’s finance minister has urged postponing EU-U.S. talks for a more balanced deal.