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‘We can do whatever we want’: Trump on reciprocal tariffs as July deadline approaches
When asked about the deadline, Trump said the US could either extend or shorten it.
United States President Donald Trump on Friday hinted at uncertainty over the July 8 deadline, when reciprocal tariffs are set to return for several countries.
When asked whether the deadline would be adhered to, Trump said, “No, we can do whatever we want.” He added that the US could either extend the deadline or shorten it, according to a CNBC report.
The question was aimed towards July 9, the deadline for the US and European Union to negotiate a trade deal, failing which a 50 per cent tariff rate would be imposed on EU imports.
However, Trump in his answer was seemingly talking about the July 8 deadline, when the three-month pause on the reciprocal tariffs imposed by US on several countries ends.
Trump's remarks are in line with White House press secretary Karoline Leavitt's statement Thursday, saying that the July tariff deadlines could be extended. “…but that’s a decision for the president to make,” Leavitt added.
However, with less than two weeks remaining in the 90 day-pause announced on the reciprocal tariffs, the US has so far only managed to negotiate limited trade deal agreements with China and United Kingdom.
These also lean more towards being frameworks rather than finalised deals which can be executed. Trump said that while the US had made deals with “four or five” countries, there were “200 countries plus” left, as per CNBC.
Trump said that during the next week, the US may send out letters to these countries, informing them of what they would have to pay in order to carry out business it.
Trump's hint towards ‘big’ trade deal with India
While announcing the trade deal with China, US President Trump hinted at a “big one" coming up with India. “We just signed (trade deal) with China. We're not going to make deals with everybody... But we're having some great deals. We have one coming up, maybe with India, a very big one,” Trump said.
He further said that the US would try to “open up” India's trade framework, claiming that they were doing the same with China. “Things that never really could have happened, and the relationship with every country has been very good,” Trump said.
The trade deal between the India and US is on the cards, with US commerce secretary Howard Lutnick claiming earlier this month that the agreement could get finalised soon.
Union Commerce and Industry Minister Piyush Goyal too on June 10 had said that both India and US were in the process of negotiating a fair and equitable trade deal.
