On July 8th, local time, President Trump of the United States stated on social media platform “Reality Social” that according to the letter sent to various countries on the 7th and the letters to be sent in the coming period, tariffs will begin on August 1st, 2025, “the date has not changed, and it will not change in the future either.”
Trump announced the imposition of so-called “reciprocal tariffs” on April 2nd, which triggered a sharp fall in U.S. financial markets. Under pressure from multiple parties, Trump announced on April 9th a temporary suspension of high “reciprocal tariffs” on certain trading partners for 90 days while maintaining a base tariff rate of 10%.
On July 7th, Trump signed an executive order extending the temporary suspension of the so-called “reciprocal tariffs,” delaying their implementation from July 9th to August 1st.