Donald Trump news: US President’s trade deadlines in July ‘not critical’, White House says

US President Donald Trump could extend looming deadlines for reimposing steep tariffs on imports from most of the world’s countries, the White House said Thursday.

Mr Trump’s July 8 and 9 deadlines for restarting tariffs on those nations are “not critical,” White House Press Secretary Karoline Leavitt told reporters.

“Perhaps it could be extended, but that’s a decision for the President to make,” Ms Leavitt said.

Ms Leavitt also said Thursday that if any of those countries refuse to make a trade deal with the United States by the deadlines, “The President can simply provide these countries with a deal.”

“And that means the President can pick a reciprocal tariff rate that he believes is advantageous for the United States, and for the American worker,” she said.

Stocks rose to session highs following Ms Leavitt’s remarks, which are just the latest signal that Mr Trump may not hold fast to deadlines he has set.

In early April, Mr Trump imposed so-called reciprocal tariffs at varying rates on imports from nearly all countries.

But on April 9, he granted a 90-day pause for those tariffs for any amount beyond 10% to give those countries time to negotiate. That deadline expires July 8.

In late May, Mr Trump threatened to impose tariffs of 50% on imports from European Union nations, all of whom had already been subject to the reciprocal tariffs imposed in April.

But he soon agreed to delay that 50% duty until July 9, after European Commission President Ursula von der Leyen said she needed an extension to “reach a good deal.”

Earlier Thursday, White House Council of Economic Advisers chairman Stephen Miran told Yahoo Finance that he expected those deadlines would be extended for countries that engaged in “good faith” trade negotiations with the U.S.

In those cases, “I don’t see why [tariff] rates would snap back higher,” Mr Miran said.

In June, Treasury Secretary Scott Bessent told the House Ways and Means Committee that it was “highly likely” that Mr Trump would push back his July 8 deadline for the full range of reciprocal tariffs to take effect above the 10% minimum.

When Mr Trump temporarily pared back his reciprocal tariffs, administration officials suggested it would be possible to clinch 90 trade deals in 90 days.

But with that deadline approaching, the White House has only struck trade agreements with China and the United Kingdom. And both of those pacts have been described more as frameworks than as finalised deals.

Mr Trump aides have repeatedly signalled that the U.S. is very close to reaching a deal with India, though that trade pact has yet to materialise.

White House National Economic Council director Kevin Hassett told Fox Business on Tuesday, “We know that we’re very, very close to a few countries.”

He suggested that those deals would be announced after Congress passes the major tax-and-spending bill that comprises much of Mr Trump’s domestic agenda. Mr Trump has said he wants to sign that bill by July 4.

“I think you’re going to see a sequence of trade bills” starting around that date, Mr Hassett said.