White House press secretary Karoline Leavitt holds a letter from President Donald Trump in a press briefing in Washington on July 7, 2025 (Photo: Reuters)

The Trump Administration’s earlier window for trading partners to negotiate a deal was set to close on Wednesday, July 9. Presidential Press Secretary Karoline Leavitt said, "Weeks ago, I stood at this podium and I told all of you that the President was going to create tailor-made trade plans for each and every country on this planet, and that’s what this administration continues to be focused on."

"The President will sign an executive order today delaying the July 9 deadline to August 1." "We’ve seen a lot of positive developments in the right direction, but the administration, the President, and his trade team want the best deals for the American people and the American workers," she added.

President Trump announced Monday on Truth Social a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other nations that will go into effect on August 1. Myanmar, Laos, South Africa, and Kazakhstan face a 40% tariff rate, the highest of the new levies the US is threatening to deploy. So far, the US has only reached frameworks with the UK, China, and Vietnam.