Deal or no deal, President Trump says there won’t be a pause on the tariffs set to take effect on August 1.
Transciption:
The August 1st tariff deadline is just two days away – and this time, President Trump says there will be NO extension.
He posted on Truth Social: “IT STANDS STRONG, AND WILL NOT BE EXTENDED. A BIG DAY FOR AMERICA!!!”
India is now in the crosshairs. Starting August 1st, it faces a 25% tariff – plus a “penalty” – over what the President calls unfair trade practices and ties to Russia. That’s just below the 26% rate imposed on “Liberation Day.”
As for China? Negotiations are reportedly on a separate track — and moving slowly. Commerce Secretary Howard Lutnick told CNBC trade deals for ‘the world’ will be ‘done by Friday,’ but China will take longer. Negotiations are currently taking place in Stockholm, Sweden.
Meanwhile, Treasury Secretary Scott Bessent tried to calm markets, telling CNBC: “It’s not the end of the world” if the tariffs kick in next month — and hinted they may only last a few days or weeks, “as long as countries keep negotiating in good faith.”
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Caroline Woods with TheStreet.
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