From Washington Examiner: President Donald Trump’s decision to extend his pause again on “Liberation Day” tariffs is keeping U.S. trading partners and consumers on their toes about whether price hikes will ever materialize.
Though senior Trump administration officials predicted that the president would secure 90 new trade deals over the 90-day pause, Trump entered Monday with inking deals with three countries: the United Kingdom, Vietnam, and China. Furthermore, the China deal only lasts through the summer, as Beijing and Washington continue negotiations toward a more permanent agreement.
And even as countries furiously pitched new proposals over the weekend, according to Treasury Secretary Scott Bessent, Trump decided to sign an executive order Monday evening, kicking his July 9 deadline for higher tariff rates back to Aug. 1.
Despite the numerous changes and delays, senior Trump administration officials still believe Trump is determined to follow through with his tariff plans. But the many changes leave the future in question.
Despite months of expert predictions warning that Trump’s tariff agenda would harm the economy and cause inflation to soar, the anticipated negative economic effects have not fully materialized.
Wall Street traders, who initially reacted with “Liberation Day” panic, now appear to believe that the president’s tariffs may never actually be implemented.
This has prompted a nickname among traders: TACO — “Trump Always Chickens Out.” Many are betting that the president doesn’t have the resolve to follow through with his tariff plans if ear of potential economic and political repercussions.
But senior administration officials told the Washington Examiner that Trump is determined to reset U.S. trade relationships, which could have far-reaching implications for the global economy.
“President Trump is fighting every single day to stop other countries from taking advantage of the United States, like they’ve done under Republican and Democratic administrations for decades,” one White House official said. “His policies aren’t about pleasing Wall Street. They’re about protecting Main Street, protecting everyday Americans who are sick of Biden’s inflation, and he’ll never stop fighting for them.”
In a Monday Truth post, Trump expressed his resolve.
“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.
“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. Thank you for your attention to this matter!”
REPORT: Trump says August tariff rate deadline ‘firm but not 100% firm’
READ MORE AT WashingtonExaminer.
