U.S. President Donald Trump has made it crystal clear: the August 1 tariff deadline will stand firm, with no extensions allowed. In a recent post on Truth Social, Trump assured that countries facing his so-called "reciprocal" tariffs must start making payments by August 1, 2025.
The renewed emphasis comes after new, higher tariffs were imposed on 14 countries, including nations such as South Africa, Malaysia, and Thailand. Meanwhile, the U.S. has already secured trade deals with the UK and Vietnam, and even reached an initial framework with the Chinese mainland.
Amid this dynamic trade environment, international negotiators are stepping up efforts. Japan's chief tariff negotiator, Ryosei Akazawa, engaged in a 40-minute phone call with U.S. Commerce Secretary Howard Lutnick, striving to craft a deal acceptable to both sides before the deadline. South Korea too is intensifying talks, seizing the opportunity to improve domestic systems and address trade imbalances.
The European Union is in the mix as well. Trump mentioned that discussions are close to finalizing an agreement with the bloc, hinting that a letter could be sent in just a couple of days—which, in his words, would mean a deal is done.
As the countdown to August 1 begins, the global trade stage is set for a high-stakes showdown. Stay tuned as these negotiations continue to shape international economic relations! 🚀📅
Reference(s):
cgtn.com
