The White House announced on June 26 that the Trump administration could postpone the imposition of higher import tariffs on goods from dozens of countries, expected to take effect in July.
According to VNA, speaking at a press conference, when asked whether President Trump would still commit to the deadline for reaching trade deals in July, White House Press Secretary Karoline Leavitt said that day was not important and pointed out: The president can simply make a deal for the countries. And that means the president can choose the rate of tariffs he believes will benefit the United States and American workers.
At the end of May, President Trump threatened to impose a 50% tariff on the European Union (EU). But two days later, he agreed to postpone the rate until July 9, after European Commission President Ursula von der Leyen said she needed an extension to "reach a good deal".
In addition, Mr. Trump is also facing a 30-day deadline for applying US "go back and forth" tariffs to most other countries that are about to expire.
This tax delay, reducing the almost global tariffs to 10%, will end on July 8.
Reacting to the White House's move, stock prices increased to the highest level in the trading session on the afternoon of June 26. This is the latest signal that President Trump may not keep the terms he previously announced.
On the same day, Chairman of the White House Economic Advisory Council Stephen Miran said he hopes those terms will be extended for countries participating in re convenient trade negotiations with the US. For those cases, Mr. Miran said: "I don't understand why the tax rate is rising again".
In early June, US Treasury Secretary Scott Bessent told the House of Representatives' Finance and Tax Committee that it was highly likely that President Trump would postpone the deadline for July 8.
