Trump extends tariff pause with trade partners until August 1

In another demonstration of the volatility of Donald Trump’s aggressive trade policy and his coercive negotiation style, the U.S. president announced on Monday — through his press secretary, Karoline Leavitt—the postponement of the end of a 90-day tariff pause he himself had granted to dozens of partner nations to give them time to renegotiate new trade agreements. The new deadline is now set for August 1.

Leavitt made the announcement during a White House press briefing, stating that the extension of the pause in the trade war launched by Trump upon his return to power would be formalized through a presidential decree. Given the pattern so far, it’s entirely possible that things could change again — perhaps even multiple times — between now and August 1.

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The new move came just as Trump was publishing a series of letters to trade partners on his personal account on Truth Social, the platform he owns. In these letters, he threatened new tariffs. He began with two major partners, Japan and South Korea, warning their leaders — in letters made public just after noon in Washington — that imports from their countries would face a 25% tariff.

Next came Malaysia (25%), Kazakhstan (25%), South Africa (30%), Laos (40%), and Myanmar (40%). These letters can be interpreted as pressure tactics from Washington to influence ongoing trade talks. According to Reuters, the European Union is not expected to receive one of these letters.

In each letter, addressed directly to national leaders, Trump also warned that if they respond with tariffs on U.S. goods, Washington would hit back with an additional tariff of equal value — stacked on top of the ones announced Monday. The news immediately rattled financial markets, which are especially sensitive to the unpredictability of economic decisions coming out of Washington.