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DealBook|New Deadlines, New Letters — Same Tariff Uncertainty
https://www.nytimes.com/2025/07/07/business/dealbook/trump-tariff-deadline-trade.html
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Andrew here. Hope you had a great July 4 weekend. This Monday is turning out to be especially busy: President Trump has a new trade deadline — and is threatening to return tariff levels on countries that don’t meet it to the astronomical levels proposed in April. My colleagues and I are looking at whether that threat is real.
And Elon Musk says he is starting a new political party and is criticizing Trump again (and is even making new, veiled references to Jeffrey Epstein.) We dive into all of it and what his investors may be thinking today.
A new tariff deadline
Now that President Trump has pushed his signature domestic policy bill over the finish line, his focus has returned to his trade war, ahead of a pivotal week to lock in deals or reimpose tariffs.
Global companies are bracing for a series of deadlines. Trump announced on Sunday on Truth Social that “UNITED STATES TARIFF Letters” would begin going to many trade partners today.
What will be in the letters isn’t clear, but they appear meant to jump-start trade talks as the Trump administration falls far short of its goal of striking 90 deals in 90 days.
The administration may be trying to buy more time. Treasury Secretary Scott Bessent and Howard Lutnick, the commerce secretary, said on Sunday that sweeping tariffs probably won’t kick in until Aug. 1 for countries that hadn’t yet forged a deal. That’s a bit later than the July 9 deadline that Trump had previously threatened.
