Trump Threatens New Tariffs, Extends Talks For Deals/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ President Trump plans tariff letters Monday targeting nations without trade deals. Talks continue ahead of a Wednesday deadline, but extensions remain possible. Businesses and markets face uncertainty as Trump pushes aggressive trade policies.
Quick Look
- Who: President Trump, U.S. trade officials, foreign governments
- What: Possible tariff letters Monday warning higher rates August 1
- When: Deadline Wednesday, tariffs potentially effective August 1
- Why it matters: New tariffs could disrupt trade, markets, global economy
- Deals so far: UK and Vietnam agreements finalized
- Countries targeted: Unspecified, but at least 12-15 nations mentioned
- Canada update: Talks progressing, no tariff letter planned
Trump Presses Nations for Trade Deals as Tariff Deadline Nears, Signals Possible Delay
Deep Look
WASHINGTON (AP) — The Trump administration is intensifying pressure on trading partners to finalize new trade deals before a Wednesday deadline, warning that letters outlining higher tariffs could begin going out Monday to multiple countries.
The move heightens uncertainty for businesses, consumers, and global markets as the administration balances aggressive tariff threats with hints that more time could be granted for negotiations. President Donald Trump and top officials say extensions are possible for nations negotiating in good faith—but insist the U.S. is determined to secure better trade terms.
“The United States is always willing to talk to everybody about everything,” said Kevin Hassett, director of the White House National Economic Council, on CBS’ “Face the Nation.” He added that deadlines might shift, depending on how close negotiations come to final agreements.
Stephen Miran, chair of the White House Council of Economic Advisers, echoed that sentiment, suggesting countries making concessions might “get the date rolled.”
Letters and Looming Tariffs
Trump first announced sweeping new tariffs on April 2, sparking fears of a global trade war. After rattling markets, the administration paused the higher import taxes for 90 days, setting a July 9 deadline for new agreements.
So far, formal deals have been struck only with the United Kingdom and Vietnam.
The threatened tariffs include a 10% baseline tax on all imports, along with steeper levies: 50% on steel and aluminum and 25% on autos. Trump has targeted countries with significant trade surpluses with the U.S., seeking what he calls “reciprocal” arrangements.
On Sunday, Trump said he planned to begin sending letters Monday to at least a dozen countries, potentially 15, detailing tariff rates if deals are not reached. The tariffs would take effect August 1.
“We’ve made deals also,” Trump told reporters as he left his New Jersey home for Washington. “So we’ll get to have a combination of letters, and some deals have been made.”
The administration has not named which countries will receive letters.
Uncertainty and Deadlines
Treasury Secretary Scott Bessent emphasized that August 1 is not a firm cutoff and offered no specifics on what might happen on Wednesday.
“We’ll see,” Bessent said on CNN’s “State of the Union.” “I’m not going to give away the playbook.”
Bessent added that the U.S. was “close to several deals,” predicting major announcements in the coming days.
Later Sunday, Trump posted on his social media platform that he intends to impose additional tariffs on nations within the BRICS bloc (Brazil, Russia, India, China, South Africa) for what he called “Anti-American policies.” Any country aligning itself with BRICS, he said, would face an extra 10% tariff.
Vietnam and Other Deals
Trump has touted a new deal with Vietnam under which U.S. goods would enter the country duty-free, while Vietnamese exports to the U.S. would face a 20% tariff—a reduction from the 46% rate he initially proposed in April.
Asked Friday whether he expects agreements with the European Union or India, Trump said letters might be the simpler route given the complexity of multi-nation negotiations.
“It’s much easier to send a letter saying, ‘This is what you’re going to have to pay if you want to do business in the United States,’” Trump said.
Canada Talks Continue
Canada, however, appears exempt from the letter campaign. U.S. Ambassador Pete Hoekstra said Friday that negotiations with Canada are progressing and no letter would be sent.
“Canada is one of our biggest trading partners,” Hoekstra said in an interview with CTV News. “We’re going to have a deal that’s articulated.”
Canadian Prime Minister Mark Carney has set a target of July 21 for finalizing a new trade agreement, warning that Canada will impose countermeasures if no deal emerges.
Hoekstra declined to set a firm timeline for a deal and acknowledged that even with an agreement, Canada could still face some tariffs. But, he added, “we’re not going to send Canada just a letter.”
As negotiations continue, businesses and global markets remain on edge, wary of another sudden escalation in Trump’s trade wars.
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