Trump sent tariff letters to 14 countries including South Korea, Japan, Malaysia and Bangladesh.
United States President Donald Trump on Monday extended a pause on his sweeping reciprocal tariffs to August 1, while also sending “tariff letters” to some countries, warning they would be subject to new tariff rates if they failed to reach a trade deal with the US by the new deadline.
Here is what is going on with Trump’s reciprocal tariffs, and what his tariff letters say:
On Monday, the White House released a fact sheet saying Trump signed an executive order extending the tariff pause.
The pause was originally scheduled to end on Wednesday, July 9, for the “Liberation Day” tariffs he initially announced on April 2. However, Trump imposed a 90-day pause on the steep reciprocal tariffs on April 9. During this period, most of the US’s trading partners faced a flat 10 percent tariff.
