Tariff deadline extended as U.S. pursues final trade deals

The Trump administration has postponed implementation of a new round of tariffs until Aug. 1, following an executive order issued this week by President Donald Trump aimed at giving trade negotiations more time to wrap up. The reciprocal tariffs — initially announced in April — had been on a 90-day delay set to expire July 9.

With the new deadline in place, the White House sent formal notification letters to 14 countries, informing them that the revised tariff rates will go into effect at the beginning of August, whether or not deals are reached. While most countries saw only minor changes from the April proposal, several experienced significant shifts. Cambodia, Laos, and Bosnia and Herzegovina received sizable reductions, while Japan and Malaysia faced slight increases. Nations such as Indonesia, South Korea, Thailand, and South Africa retained their original proposed rates.

On July 9, additional notices were sent to the Philippines, Brunei, Moldova, Algeria, Iraq, and Libya. A public letter addressed to Brazil stated that the U.S. will impose a 50 percent tariff on all Brazilian goods, citing political instability surrounding former President Jair Bolsonaro and his alleged role in an attempted coup.

“I am announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT,” Trump said in a post on his Truth Social media platform, a reference to a “Section 232” national security trade investigation into the red metal that has been underway.

Countries affected by the tariffs include key markets for American agricultural exports. Japan, Indonesia, and Bangladesh — among the top 10 destinations for U.S. soybeans in 2024, according to USDA’s Foreign Agricultural Service — could be directly impacted if no exemptions or side deals are struck.

So far, the administration has concluded new trade deals with only two countries: the United Kingdom and Vietnam. The UK agreement provides limited market access for U.S. beef and ethanol but does not lower tariffs. Specifics of the Vietnam deal remain undisclosed.

Trade relations with China remain on a separate track. Ongoing discussions in Geneva have led to a temporary freeze on tariff hikes with Beijing, with current rates holding steady through mid-August.