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Trump's Tariff Deadline: The Outbreak of A Trade War
Trump Pushes Trade Deadlines as July 9th Approaches
U.S. President Donald Trump has indicated he will not extend the 90-day pause on tariffs for most nations beyond July 9th. This deadline marks the end of a negotiating period set by his administration, and countries should expect to be notified that trade penalties will take effect unless new agreements are reached with the United States.
"Letters will start going out 'pretty soon' before the approaching deadline," Trump stated in a recent interview on Fox News Channel's "Sunday Morning Futures." He emphasized that the tariffs, which could range from 10% to 50%, would be determined by how each country has treated the U.S. in trade relations. "Some countries we don't care, we'll just send a high number out," he added.
The Challenge of 90 Deals in 90 Days
The administration had initially aimed to secure 90 trade deals within the 90-day window. However, Trump acknowledged the difficulty of this goal, noting the sheer number of nations involved. "There's 200 countries, you can't talk to all of them," he explained, despite ongoing negotiations.
Interestingly, Trump also confirmed that trade talks with Canada have ended due to a tax on U.S. tech firms, highlighting the individualized approach his administration is taking.
TikTok Sale and Other Geopolitical Focuses
Beyond tariffs, President Trump touched upon other significant international matters. He revealed that "We have a buyer for TikTok, by the way," though he believes China's approval, specifically from President Xi Jinping, will be necessary for the deal to go through. Details about the investors remain under wraps, with Trump promising more information in "about two weeks." This timeframe is one he has frequently cited for major decisions, including the recent U.S. strikes on Iranian nuclear sites.
Earlier this month, Trump had signed an executive order to allow TikTok to continue operating in the U.S. for another 90 days, specifically to facilitate a deal that would bring the popular social media platform under American ownership.
The wide-ranging interview also covered relations with China, the recent strikes on Iran, and his administration's immigration crackdown, signaling a continued focus on a diverse array of foreign and domestic policy issues as the July 9th deadline approaches.
What do you think about the potential impact of these tariffs on global trade? Share your thoughts in the comments below!
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