President Donald Trump has postponed the implementation of higher tariffs on certain U.S. imports, extending a 90-day pause that was due to expire this week.
However, he simultaneously announced fresh tariff plans targeting 14 countries, including Japan, South Korea, and several Southeast Asian and African nations.
The higher tariffs, originally set to take effect on July 9, have now been deferred to August 1. Trump described the new deadline as “firm, but not 100% firm,” suggesting flexibility if nations are willing to negotiate alternative trade deals.
Trump’s letters to the 14 affected nations outlined new levies: 25% on imports from Japan and South Korea, 40% on goods from Myanmar and Laos, 36% on Thailand and Cambodia, 35% on Serbia and Bangladesh, 32% on Indonesia, 30% on South Africa, and 25% on Malaysia and Tunisia.
These moves follow his April “Liberation Day” announcement threatening broad new tariffs, which rattled global markets.
While the White House claims these tariffs aim to protect American industries and jobs, critics argue they could lead to higher prices and reduced trade. U.S. stock markets dipped following the announcement, with Toyota’s U.S.-listed shares falling 4%.
Japan and South Korea, two of America’s top ten trading partners, expressed regret over the tariff escalation but vowed to continue negotiations.
Thailand also voiced optimism about reaching a deal before the August deadline.
White House Press Secretary Karoline Leavitt defended the shifting timelines, saying global leaders are actively reaching out to negotiate.
Treasury Secretary Scott Bessent confirmed an influx of new proposals, signaling intensified backroom trade discussions.
Despite criticism of the slow progress in finalizing deals—only Vietnam and the UK have secured trade frameworks so far—analysts suggest the tariffs may be part of Trump’s broader negotiating tactics rather than fixed policy.
While the administration defends its strategy as a push for fairer trade, many economists warn that such sweeping tariff threats risk destabilizing global trade and damaging U.S. economic interests.
