LagosExplorer reports that US President Donald Trump has officially delayed a fresh round of import tariffs, issuing a stark warning to 14 countries—including Japan and South Korea—that higher levies will kick in by August unless trade talks show progress.
The decision comes just as a 90-day pause on aggressive tariff measures was set to expire this week.
In a move designed to reignite pressure on global trade partners, Trump issued letters to world leaders outlining updated tariff rates, while reserving the right to adjust them “upward or downward” based on bilateral relations. The president had previously suspended the tariffs, which included a 25% duty on certain imports from Japan and South Korea, in hopes of striking new trade deals.
“I would say firm, but not 100% firm,” Trump said when asked whether the August 1 deadline was final. “If they call up and they say we'd like to do something a different way, we're going to be open to that.”
The letters were shared publicly on Trump’s social media pages, further underlining his trademark negotiating strategy of combining public pressure with room for backchannel diplomacy. The messaging echoed his April “Liberation Day” speech, in which he threatened a broad wave of new tariffs targeting global exporters.
Analysts say the move is typical of Trump’s approach to trade negotiations—aggressive up front but designed to force concessions and deals rather than trigger an all-out trade war. “This is more of a negotiating tactic than a hard-line economic assault,” said Vasu Menon, investment strategist at OCBC Bank.
Despite the combative rhetoric, the markets reacted with caution. All three major US share indexes dipped on Monday, with Toyota’s US-listed shares falling 4%, underscoring fears that renewed trade friction could ripple across global supply chains.
Japan, which exported over $148 billion in goods to the US last year, remains one of America’s top five import partners, behind the EU, Mexico, China, and Canada. South Korea also ranks in the top ten, making both nations central to any upcoming trade recalibrations.
Economists continue to warn that tariffs could have inflationary effects within the US. While Trump insists his strategy is aimed at protecting American industries and reviving domestic manufacturing, critics argue the levies will drive up prices for consumers and disrupt trade flows.
Adam Ahmad Samdin, an economist with Oxford Economics, said the delay in tariffs was expected. “Trade deals like these are highly complex and take years to finalise,” he noted. “Even the Vietnam-US agreement, which was hailed as a breakthrough, is more of a framework than a completed deal.”
Trump’s latest maneuver leaves the door open for further negotiations but adds pressure on US trading partners to act swiftly. With the August deadline now looming, global economic leaders are bracing for another turbulent round in Trump’s high-stakes tariff diplomacy.
LagosExplorer will continue to track developments as international responses to the tariff ultimatum unfold.