President Donald Trump is not plannning to extend the July 9 tariff deal he set earlier for countries to make deals with US.
Trump made this revealation in an interview with Fox News saying he does not think he will need to extend the deadline adding, “I could, no big deal.”
Donald Trump Says US Can Extend The Deadline Or Make It Shorter
Earlier on friday during a White House press conference, Trump said the July 9 deadlinewhich was set to raise “reciprocal” tariffs was not set.
Trump said US can either extend the deadline or make it shorter adding the probabilty was his adminstration will lean towards later.
“We can do whatever we want,” Trump at the press conference. “We could extend it, we could make it shorter.”
Donald Trummp Cuts Off Talks With Canada
In a related development, Trump on Friday cut off trade talks with Canada. He threatened the neighbouring country to set a new tariff rate on the country’s goods within the next week.
Trump said the move to stop trade talks with Canada was in response to its move to implement a digital services tax on technology companies. Trump called it a “direct and blatant attack on our country.”
Trump took to his Truth Social, writing, “We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period.”
On Friday, Treasury Secretary Scott Bessent said, US tariffs on Chinese imports will start at 30% while as China tariffs on US imports will be 10%.
China Strucks Deal With Donald Trump
According to reports China has struck a deal with Trump and will be supplying rare earths to US. In response US will reciprocate by taking down it countermeasures. The trade deal is been seen as major thaw between the two countries.
In other reports, US is finalizing trade agreements with 10 key US trading partners within just two weeks to go. Treasury Secretary Bessent on Friday said the US is likely to complete most important trade talks with various countries by Labor Day.
“I think we could have trade wrapped up by Labor Day,” Bessent said.
