US President Donald Trump has pushed back the deadline for countries to reach a trade deal with America from July 9th to August 1st. However, he has maintained his threat to impose significant tariffs if talks fail. Countries like Japan and South Korea would face tariffs of up to 25%. The EU is still being excluded from this latest broadside.
Currently, only Britain and Vietnam have agreed to a “framework” for the trade deal. Canada, China, and Mexico are being treated separately. Trump’s new deadline aims to pile pressure on countries that have not yet reached an agreement.
Source: https://www.economist.com/the-world-this-week/2025/07/10/business