A. M. U.S. President Donald Trump signed an executive order delaying the tariff deadline until august 1. The move comes after the U.S. government sought new trade agreements with several countries and economic blocs. The European Union was among those facing a tariff increase this week.
White House spokeswoman Karoline Leavitt said that this decision demonstrates the Republican Administration’s commitment to American workers and the middle class. According to Leavitt, progress has been seen in the right direction, but the Executive wants to make sure that the pacts benefit the country.
The executive order establishes a procedure for determining which of multiple tariffs will apply to an item when it is subject to more than one of the established levies. This seeks to avoid the accumulation of tariffs on the same product.
The move comes after Trump imposed tariffs on Mexico, Canada, and China in april, aimed at protecting U.S. industry and pressuring these countries to cooperate on issues such as migration and drug trafficking.
The U.S. government seeks to promote domestic industry and protect the country’s economic interests through these tariffs. However, the move has raised concerns among some U.S. trading partners.
The decision to delay the tariff deadline until august 1 could have significant implications for the global economy and international trade agreements.
