Washington DC, 30 June 2025:
In an indication of a return to higher duties unless nations come to individual trade agreements with the US, former US President Donald Trump has confirmed that the 90 day global tariff pause will not be extended past July 9.
In a June 29 televised interview, Trump stated, "I don't think I'll need to extend it”
No big deal, I could. "I'd like to just send letters out to everybody 'Congratulations, you're paying 25 percent,'" he continued, referring to the temporary tariff suspension that was implemented on April 2 as part of his "Liberation Day" policy.
Trump clarified that his administration intends to send direct notices defining fixed tariff rates ranging from 10 to 50 percent for countries without finalized trade agreements, rather than engaging in negotiations with nearly 200 countries. "We're letting you shop in the United States, but you'll have to pay a 25 percent tariff, a 35 percent tariff, a 50 percent tariff, or a 10 percent tariff," he stated. Treasury Secretary Scott Bessent admitted that the initial goal of "90 deals in 90 days" would not be achieved, despite Trump's claims of progress in negotiations with China and the UK. By the July deadline, only a small number of agreements are anticipated.
Karoline Leavitt, the White House press secretary, had earlier said that the deadline of July 9 was "not critical," leaving open the prospect of exceptions for countries engaging in sincere negotiations. Trump's most recent remarks, however, point to a more assertive and independent strategy. In an effort to facilitate negotiations, Canada has already taken steps to eliminate its digital services tax, and Australian Prime Minister Anthony Albanese has urged the US to take zero tariffs on important exports into consideration. Although analysts are still wary of the possible consequences of renewed tariffs, market reactions have been mixed, with modest gains in US futures and Asian stocks.
In order to support Trump's "letter first" trade strategy and pave the way for a significant change in international trade, the US administration is anticipated to start issuing formal tariff notices in the days ahead.
