🚨#breakingnews 🚨 👉President #Trump says he will not extend the July 9th deadline and doubts US will make a trade deal with Japan.
👉Trump imposed a 90-day suspension of tariffs, which took effect on April 2, 2025, to allow time for negotiations on new bilateral trade agreements.
👉That period expires on July 9, 2025.His statement that he will not extend it means that tariffs that were previously suspended (which can reach 24% on Japanese goods and 25% on cars) could be reinstated.This would significantly increase the cost of importing Japanese goods into the United States and disrupt supply chains.
👉President Trump has expressed strong dissatisfaction with the trade talks with Japan, particularly emphasizing that Japan is not importing enough American rice,despite a shortage.He has also criticized the lack of American cars on the Japanese market. Japan,for its part,has said that it will not sacrifice its agricultural sector in the negotiations.
👉Instead of finalizing a negotiated agreement,Trump has said that he will unilaterally set the terms of trade with Japan. This suggests that the US will send letters to Japan outlining the new tariff rates without further negotiations.
👉The reinstatement of high tariffs could have serious consequences for the Japanese economy,especially for its automakers and other export-oriented industries.Growing uncertainty is already weighing on sentiment in Japan’s manufacturing sector.
👉Despite Trump’s strong statements, Japanese officials and some of his economic advisers have indicated that negotiations could continue beyond July 9.However, Trump’s “90 deals in 90 days” approach does not appear to have produced the desired results with all trading partners.
👉It is important to note that some federal court rulings have declared Trump’s “reciprocal” tariffs to be excessive presidential powers,but the tariffs remain in place while appeals courts review the administration’s appeals.
