Trump Dismisses Extension of Tariff Deadline, Hits Japan
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President Donald Trump said he is not considering delaying his July 9 deadline for higher tariffs to resume and renewed his threat to cut off talks and impose duty rates on several nations, including Japan.
No, Im not thinking about the pause, Trump said July 1 when asked by a reporter aboard Air Force One about whether he would extend the negotiating period with trading partners. Ill be writing letters to a lot of countries.
U.S. stocks pulled back after Trumps comments. Investors are closely watching how the president decides to handle the current pause on his April 2 tariffs, which he put on hold for 90 days to allow time for talks.
The president deepened his criticism of Tokyo for not accepting U.S. rice exports and said that auto trade between the two nations is imbalanced. He said he would force Japan to pay 30%, 35% or whatever the number is that we determine, because we also have a very big trade deficit with Japan.
Im not sure were going to make a deal. I doubt it with Japan; theyre very tough. You have to understand, theyre very spoiled, Trump said.
The president sounded more optimistic about reaching an agreement with India. When asked about the prospects for an agreement over the next week, Trump said, Possibly. Thats going to be a different kind of a deal. Its going to be a deal where were able to go in and compete. Right now, India doesnt accept anybody in. I think India is going to do that, and if they do that, were going to have a deal for much less tariffs.
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