Washington: U.S. President Donald Trump declared on Wednesday that the deadline for finalizing trade deals with various countries will remain firm, as nations like South Korea endeavor to secure tariff agreements with the United States before the week's end.
According to Yonhap News Agency, Trump's statement was made via a social media post at a time when his administration's "reciprocal" tariffs, including a 25 percent duty on South Korean goods, are poised to be implemented on Friday unless agreements are secured.
Trump emphasized the finality of the deadline by posting on Truth Social, "THE AUGUST FIRST DEADLINE IS THE AUGUST FIRST DEADLINE - IT STANDS STRONG, AND WILL NOT BE EXTENDED." He further proclaimed, "A BIG DAY FOR AMERICA!!!"
The reciprocal tariffs, intended to dismantle trade barriers to U.S. exports, were initially set in motion on April 9. However, Trump instituted a 90-day pause on the same day to facilitate negotiations. The pause was later extended, with Trump affirming that the new tariffs would commence on Aug. 1.
In a distinct post, Trump criticized India for maintaining "the most strenuous and obnoxious non-monetary trade barriers of any country," asserting that India will also face 25 percent tariffs starting Friday.
The Trump administration has successfully negotiated trade agreements with Britain, the European Union, Japan, Indonesia, Vietnam, and the Philippines thus far.