Trump says no extension in Aug. 1 tariff date

ISTANBUL

US President Donald Trump stated Tuesday that the tariffs specified in the tariff letters will be paid from Aug. 1 and that this period will not be extended.

"As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025," Trump wrote on social media.

"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 added.

On Monday, Trump shared on social media tariff letters containing tariff rates for 14 countries, including Tunisia, South Korea, Malaysia, Kazakhstan, Japan, South Africa, Bosnia and Herzegovina, Indonesia, Serbia, Bangladesh, Thailand, Cambodia, Myanmar and Laos.

These tariff rates ranged between 25% to 40%.

The letters were addressed to the countries' leaders, saying: “Our relationship has been, unfortunately, far from Reciprocal."

Urging countries to produce their goods in the US as a way to bypass tariffs, Trump said the country-specific tariff rates were "far less than" the level needed to fully address their trade imbalances with the US.

Trump also warned that tariffs could be raised above the respective rates if the countries respond with their own tariffs on the US.

The US president also signed a decree extending the tariff grace period, which was set to expire on July 9, until Aug. 1.