Trump Tariffs Deadline Won’t Be Extended Beyond August 1, President Says ‘All Money Will Be Due And Payable’

President Donald Trump on Tuesday clarified that the tariffs announced by the U.S. will come into effect on Aug. 1, 2025, and that there would be no further extensions.

“TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change,” President Trump said in a post on Truth Social.

“In other words, all money will be due and payable starting AUGUST 1, 2025 - No extensions will be granted.”

This comes a day after President Trump announced tariffs aimed at over a dozen countries, including Japan and South Korea.

“Please understand that the 25% number is far less than what is needed to eliminate the Trade Deficit disparity we have with your Country,” President Trump said in his letters to Japan and South Korea.

This also drew a sharp reaction from Germany, which said the EU is ready to retaliate in case it is unable to reach a fair trade deal with the U.S.

“If we don't reach a fair trade deal with the U.S., the EU is ready to take counter measures,” said Germany’s finance minister Lars Klingbeil on Tuesday.

Previous reports suggested that there could be an extension in the Trump tariffs deadline to August from the previously announced July 9. Commerce Secretary Howard Lutnick told reports aboard Air Force One en route to Washington.

“Tariffs go into effect Aug. 1, but the president is setting the rates and the deals right now,” he said.

Meanwhile, U.S. equities remained on the edge on Tuesday as Wall Street digests President Trump’s tariff clarification.

At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was nearly flat, while the Invesco QQQ Trust (QQQ) edged up by 0.03%. Stocktwits data shows retail sentiment around the S&P 500 ETF has been in the ‘neutral’ territory over the past week.

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Also See: Crude Oil Prices Ease As Traders Digest Trump Tariff Impact, OPEC+ Boost