Trump Postpones Deadline for Tariffs

Wake Up To Money

BBC

Business

4.1 • 775 Ratings

🗓️ 8 July 2025

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

US President Donald Trump says countries will now have until August 1 to agree new trade deals with the White House. He’d initially set a deadline of July 9 – this Wednesday – but has pushed it back by three weeks. All the same, he’s doubled down on a threat to hit two of the US’s biggest trading partners - Japan and South Korea – with tariffs of 25% unless they reach a deal by the new date. Sean Farrington speaks to a senior US economist about this latest twist in the tariffs story. We also look at a proposal to impose a wealth tax in the UK. Would it work?

Transcript

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0:35.7	Wake Up to Money from BBC Five Live. Hello, welcome to Wake Up to Money from BBC 5 Live.
0:38.9	Hello, welcome to Wake Up to Money as our steel industry waits to see what happens next
0:44.2	with the US.
0:44.9	The president over there has shared letters sent to countries, including Korea, Japan,
0:50.1	outlining 25% tariffs on imports from those countries from the 1st of August.
0:56.0	Donald Trump maintained that deals could still be made.
0:59.3	I would say firm, but not 100% firm.
1:01.9	If they call up and they say we'd like to do something a different way, we're going to be open to that.
1:07.4	What will the UK get out of these next movements?
1:10.0	Meanwhile, closer to home, today is the day that the inquiry into the post office scandal
1:14.6	publishes the initial part of its findings.
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