President Trump said Tuesday he will not budge from his decision to impose tariffs on goods from dozens of trading partners starting Aug. 1, pushing back on the idea he isn’t committed to collecting the duties.
Mr. Trump, writing on Truth Social, said products from any nation that receives a tariff-assignment letter this week will be taxed by U.S. customs when that date hits — no exceptions.
“There has been no change to this date, and there will be no change. In other words, all money will be due and payable starting AUGUST 1, 2025 — No extensions will be granted,” he wrote.
Mr. Trump on Monday sent letters to 14 countries assigning a tariff rate on goods they send to the U.S., and more letters are expected Tuesday and Wednesday.
The letters assigned tariffs ranging from 25%, notably for Asian allies such as Japan and South Korea, to 40% for certain Southeast Asian nations.
The president in April paused hefty “Liberation Day” tariffs for 90 days to calm markets and allow space for trade negotiations.
SEE ALSO: Japan, Korea eager to cut deal before Aug. 1 tariff deadline
Investors, importers and foreign nations expected tariffs to snap back Wednesday. Mr. Trump set the August deadline instead, allowing a bit more time for negotiations.
The White House pushed back on the idea that Mr. Trump will start to lose credibility with other nations if he doesn’t follow through on his tariff threats.
“They will take the letters seriously because they have taken the president seriously,” White House press secretary Karoline Leavitt said.
Mr. Trump struck trade deals with the U.K. and Vietnam, plus set the stage for more talks with China, but other countries are expected to face big tariffs within weeks unless they cut deals with him.
Mr. Trump has described allies such as Japan as “spoiled” and is pressuring the European Union to come to the table with a fair deal. He has also suggested a deal with India is imminent.
Wall Street reacted negatively to the tariff announcements, but stocks stabilized Tuesday as investors assessed possible new deals in the coming weeks.
Japan and South Korea, whose economies rely on exports, have signaled they will use the extra time to negotiate with the U.S.
Tariffs are a tax or duty paid by importers on goods they bring in from foreign markets.
Mr. Trump says tariffs are a great way to force companies to return to America or keep their operations in the U.S., employ American workers and create revenue to fund domestic programs.
Foreign countries don’t pay the tariffs directly to the U.S. Treasury. In many cases, U.S. companies will pay the levies, and they might pass on at least some of the cost to consumers through higher prices.
Mr. Trump is betting on no serious inflation from his tariff policies and says the tariffs will work hand in hand with major legislation he signed Friday to cut taxes and spur American investment.
• Tom Howell Jr. can be reached at thowell@washingtontimes.com.