Trump Delays Tariff Deadline Shockwaves Felt
Economy / Finance

Trump Delays Tariff Deadline Shockwaves Felt

The White House announced a postponement of planned tariff implementations, extending the deadline to August 1st. White House spokesperson Karoline Leavitt confirmed that President Trump intends to sign an executive order formally delaying the measures from the previously scheduled date of July 9th. She indicated that tariffs would be implemented for countries that have not reached agreements with the United States starting in early August.

Affected nations will receive written notification within one month detailing the specific tariff rates that will be applied, or alternatively, will continue negotiations with the United States.

The German government recently expressed optimism regarding the possibility of an agreement between the EU and the United States. Government spokesperson Stefan Kornelius conveyed confidence in potential resolution, stating he remains “steadfastly confident” of a positive outcome.

Kornelius also voiced support for the EU Commission’s handling of the negotiations, highlighting the assessment of various scenarios and ongoing discussions involving industry representatives, affected parties and national governments. He described the situation as a “complex matrix” due to the considerable number of interests and sectors involved.

He emphasized the importance of discretion and coordinated effort within the Commission, reinforcing the German government’s trust in their approach to the ongoing negotiations.