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U.S. President Donald Trump announced plans to send formal tariff notices to major trading partners within the next two weeks, ahead of a July 9 deadline for finalizing trade deals. Speaking at the Kennedy Center on Wednesday, Trump said, “We’re just going to send letters out saying ‘this is the deal,’ you can take it or leave it.”
Trade negotiations are ongoing with countries including Japan, South Korea, and over a dozen others. However, it remains uncertain whether Trump will follow through on the deadline, as previous tariff threats have often been delayed or extended. When asked if he would postpone the July 9 deadline, Trump responded, “I would, but I don’t think we’re going to have that necessity.”
Dubbed “liberation day” tariffs, the proposed duties are set to take effect in early July. Originally announced in April, they were granted a 90-day extension to allow for trade discussions. Trump has threatened significant tariffs on key U.S. trading partners if agreements aren’t reached, aiming to secure more favorable terms for American exports and manufacturing.
So far, only a formal trade agreement with the United Kingdom has been signed, while a framework deal with China was recently announced. Trump claimed on Wednesday that the China deal was “done” and included a commitment from Beijing to supply rare earth materials to the U.S., though specific terms were not disclosed.
The administration’s aggressive trade stance signals a renewed push for bilateral deals, with tariffs used as leverage. Investors are watching closely as geopolitical and economic implications from these negotiations could impact global markets in the weeks ahead.
