U.S. President Donald Trump declared on Tuesday that there would be no extension to the reciprocal tariff suspension deadline.
He also warned that the reciprocal tariff rates for Japan could surge to between 30% and 35%.
Trump delivered these remarks to reporters aboard Air Force One while returning to Washington after visiting a detention center for illegal immigrants in Florida.
On April 2, Trump announced plans to impose reciprocal tariffs on most trading partners. However, following a significant market shock, he decided to suspend the tariffs for 90 days on April 9.
This suspension period was intended to allow time for trade negotiations, with the possibility of adjusting tariff rates if agreements were reached.
The deadline is set to expire at midnight on July 8.
Despite widespread expectations that the deadline would be extended due to the tight negotiation schedule, Trump firmly stated that he is not considering any such extensions.
He also made it clear that if trade negotiations fail to yield satisfactory solutions for the U.S., even alliances would be expendable.
Regarding Japan, Trump expressed uncertainty about reaching an agreement, describing the outcome of negotiations as “doubtful.”
He further cautioned that the reciprocal tariff rate with Japan could be set at “30%, 35%, or whatever figure we decide.”
This marks a significant increase from the 24% tariff rate Trump had initially announced for Japan on April 2. South Korea, which has a free trade agreement (FTA) with the U.S., faces an even higher reciprocal tariff rate of 25%.
