U.S. President Donald Trump has signaled his intention not to extend the deadlines of the grace period for reciprocal tariffs, which is set to expire on July 8.
In a Fox News interview released on Sunday, Trump stated that his next step is to send letters to all countries.
He emphasized that these upcoming tariff-related letters would be “the end of the trade deal.” Trump elaborated that the letters would outline the U.S. trade deficit and permit the purchase of U.S. goods, such as crude oil, but would impose tariffs of 10%, 25%, 35%, or 50%.
On April 9, Trump announced a 90-day exemption for reciprocal tariffs, which were first announced on April 2. Since then, the U.S. has been engaged in trade negotiations with various countries.
Meanwhile, Trump addressed the recent extension of the deadline for the sale of TikTok’s U.S. operations to September 17. He mentioned, “We have a buyer for TikTok by the way.” Without specifying the buyer’s identity, he described them as “very wealthy individuals” and “a group of very wealthy people.”
