President Donald Trump, at a Cabinet meeting conducted in front of the press on July 8, said that an announcement on lumber tariffs or quotas "just came out," adding, "now today, we're doing copper. I believe the tariff on copper we're gonna make that 50%."
President Donald Trump issued an executive order late July 7 that said he is postponing the effective date of higher country-specific reciprocal tariff rates from July 9 to Aug. 1 "based on additional information and recommendations from various senior officials, including information on the status of discussions with trading partners."
President Donald Trump shared the text of his "offer letters" to Japan and South Korea, telling those countries' leaders that goods from their countries will be subject to 25% tariffs, beginning Aug. 1. Back in April, he had said a 24% reciprocal tariff rate would apply to Japanese goods, and a 25% rate would apply for South Korean goods, with those rates briefly taking effect before being delayed until July 9.
Two days before the now extended pause on higher country-specific reciprocal tariffs was to end (see 2507070054), President Donald Trump shared screenshots of letters he is sending to trading partners large -- Japan, South Korea, Thailand, Indonesia and Malaysia -- and small, informing them what rates their goods will face at the border, starting Aug. 1.
President Donald Trump continued to post screenshots of his tariff letters July 7, informing Laos and Myanmar of a 40% rate for their products, Kazakhstan and Malaysia of a 25% rate, and South Africa of a 30% rate.
President Donald Trump issued an executive order late July 7 that said he is postponing the effective date of higher country-specific reciprocal tariff rates from July 9 to Aug. 1 "based on additional information and recommendations from various senior officials, including information on the status of discussions with trading partners."
President Donald Trump expressed pessimism about reaching a trade deal with Japan, and suggested that the tariff rate would be higher than the 24% country-specific rate briefly in effect April 9 in comments to reporters traveling on Air Force One July 1.
President Donald Trump announced on social media that he has arrived at a deal with Vietnam, and its goods will face a 20% tariff. If goods are transshipped, the president said, they will pay 40% tariffs. "In return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade. In other words, they will “OPEN THEIR MARKET TO THE UNITED STATES,” meaning that, we will be able to sell our product into Vietnam at ZERO Tariff. It is my opinion that the SUV or, as it is sometimes referred to, Large Engine Vehicle, which does so well in the United States, will be a wonderful addition to the various product lines within Vietnam."
President Donald Trump posted on social media that Vietnamese goods would face a 20% tariff, rather than an originally proposed 46% reciprocal tariff, in exchange for zero tariffs on U.S. exports.
Rep. Chris Deluzio, D-Pa., and four other House Democrats wrote to the president with questions about possible tariff rate quotas for Mexican steel, after reading reports that the U.S. might agree to drop 50% tariffs on Mexican steel in a TRQ arrangement.