"Possibility of Agreement with India"
Confirms Negative Stance on Extending Reciprocal Tariff Grace Period
U.S. President Donald Trump expressed a negative stance on the possibility of reaching a trade agreement with Japan, warning that reciprocal tariffs between the two countries could be raised to as high as 35%.
On July 1 (local time), President Trump told reporters that he was "skeptical" about the possibility of the United States and Japan reaching a trade deal, making these remarks.
He indicated that the country-specific reciprocal tariff rate imposed on Japan could be raised from the current 24% to between 30% and 35%.
Previously, on April 2, President Trump announced country-specific reciprocal tariffs. He applied a 90-day grace period for country-specific reciprocal tariffs, excluding the basic tariff of 10%. This grace period is scheduled to end at 12:01 a.m. on July 9.
In contrast, regarding trade negotiations with India, President Trump showed a relatively optimistic outlook, stating that "there is a possibility of reaching an agreement."
President Trump also reiterated that there are no plans to extend the grace period for reciprocal tariffs. In a Fox News interview released on June 29, he stated that an extension of the tariff grace period "probably won't be necessary" and that "what we need to do is send letters to all countries before July 9."
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