Tariff suspension on China remains unchanged by new executive order
US President Donald Trump signed an executive order Monday that extends the date on which reciprocal tariffs will take effect to Aug. 1.“I have determined, based on additional information and recommendations from various senior officials, including information on the status of discussions with trading partners, that it is necessary and appropriate to extend the suspension effectuated by Executive Order 14266 until 12:01 a.m. eastern daylight time on August 1, 2025,” Trump said in the executive order, which was published by the White House.
The previous deadline had been July 9.
With respect to China, the separate tariff suspension effectuated by Executive Order 14298 of May 12 remains in effect and is unaltered by this order, it said.
Earlier, Trump announced tariffs on 14 countries, including a 25% tariff on Japan, South Korea, Malaysia, Kazakhstan and Tunisia, a 30% tariff on South Africa and Bosnia and Herzegovina, a 32% tariff on Indonesia, a 35% tariff on Serbia and Bangladesh, a 36% tariff on Cambodia and Thailand and a 40% tariff on Laos and Myanmar.
- 'We are close to making a deal with India'
While hosting Israeli Prime Minister Benjamin Netanyahu at the White House, Trump told reporters that the August deadline is "firm, but not 100% firm."
"If they call up and they say ‘we'd like to do something a different way,' we're going to be open to that."
Asked about tariff letters that he sent to some countries on Monday, Trump said they are "final offers."
“We're always subject to negotiate something that's fair, but we've talked to most of the countries. They've had their way for many, many decades...We just wanted fairness,” he added.
Trump also said the US made a deal with the UK and China.
"We're close to making a deal with India. Others we met with, and we don't think we're going to be able to make a deal. So we just send them a letter. If you want to play ball…this is what you have to pay," he added.
