‘Take it or leave it’: Donald Trump can expand the deadline of July 8 tariff; Going to send business letters soon

US President Donald Trump said on Wednesday that he was open to extend the July 8 deadline for business talks before kicking high tariffs, but he probably “would not have” an extension “.,Speaking to reporters before a demonstration at Kennedy Center Trump, Trump said, “We are shaking in terms of deals. We are working with a few countries and they all want to make a deal with us.”Despite being open to some flexibility, Trump insisted that he saw an expansion “a requirement”. The US President told reporters, “We are working with Japan. We are working with South Korea. We are doing many of them. We are working with about 15 countries.”Trump further continued that the United States will soon send a letter underlining the terms of the final trade deal to dozens of countries. “But as you know, we have about 150-plus, and you can’t [make a deal with all of them]So we are going to send letters to about one and a half weeks, two weeks, countries and tell them what the deal is, “he said.“At a certain point, we are just going to send letters … saying,” This is a deal. You can take it, or you can leave it, “said Trump. “So we will do this at a certain point. We are not very ready,” he said.

Currently, only one deal with the United Kingdom is finalized, while around 17 others are still subject to interaction. The 90-day break on Trump’s broad “mutual” tariff is set to end on July 8, thereby pressure on countries to reach agreements.Speaking to MPs, US Treasury Secretary Scott Besent said that the deadline can be extended for some countries. Besent explained to the House Wes and Means Committee that, “It is very likely that those countries – or trading blocks as it happens to the European Union – who are interacting in good faith, we will take forward the date to continue the conversation of good faith.”“If no one is talking, we will not.” Bessent added.Besant’s comments first suggested an official of the Trump administration that the tariff may be flexibility on the deadline. Trump echoed this feeling and said, “They want to talk.” Earlier on Tuesday (local time), Trump confirmed that a new trade deal with China has been done “,” the final approval from both him and the Chinese President Xi Jinping is pending. Under the agreement, the US will impose 55% tariffs on sugar imports, while China will implement 10% tariff on US goods.“We did a lot with China. We are very happy with this,” Trump told reporters at the Kennedy Center, “We have everything we need, and we are going to do it very well with it.” And hopefully they are also. ,Trump revealed that China would supply the US with magnets and rare earth content as part of the deal. In turn, Chinese students will be allowed to continue studying in American universities – a reversal from Trump’s first restrictions on their presence in American institutions.

Trump posted on Truth Social, “Our deal with China is subject to final approval with President Xi and me. Full magnets, and any essential rare earth, will be supplied, in front, by, by China.“President Xi and I are going to work together to open China for American trade, adding China’s readouts. This will be a big win for the two countries !!!, “Trump said in a different post.The backdrop of these developments is Trump’s sudden announcement of a break in his aggressive tariff plans on 9 April, which surprised the global markets a week earlier when he unveiled the “liberation day” tariff on almost all major trading partners.The move sent the S&P 500 index for more than 12% in just four days, which was the worst decline since the introduction of the Kovid -19 epidemic. Even the US Treasury Bond was hit, with yields spiking and dollar sinking.The market began to stabilize only on 9 April, when Trump unexpectedly stopped the tariff rollout. Oddism returned in May as the administration surpassed the aggressive tariff schemes, especially against China.