US PRESIDENT DONALD Trump will push back the deadline for the imposition of higher tariffs to 1 August, the White House has said. 

The deadline for countries to make deals before steeper tariffs kick in had been set for this Wednesday, but White House Press Secretary Karoline Leavitt told reporters this evening that Trump would be signing an executive order to delay it.

The delay is the latest last-minute shift in Trump’s trade policy, which has seen the US impose sweeping tariffs with on imports from around the world. 

Trump originally announced tariffs on world economies on what he called “Liberation Day” on 2 April, claiming the United States was being “ripped off.”

When his policies created market turmoil, Trump then suspended the initial tariffs for 90 days, a deadline that was due to expire on Wednesday.

Negotiations with states around the world are ongoing. 

Earlier today, Trump had hinted at the deadline extension when he sent nearly identical letters to Japan and South Korea informing them that 25% tariffs would come into effect on 1 August, rather than this Wednesday. 

Trump said the tariffs would be imposed on the two countries because their trading relationships with Washington were “unfortunately, far from Reciprocal.”

Trump issued similar letters to a dozen other trading partners including Indonesia, Bangladesh, Thailand, South Africa and Malaysia, saying he would slap duties on their products ranging from 25% to 40%.

The Trump administration had promised to make 90 trade deals in the space of 90 days. 

So far though, Washington has unveiled deals with only the UK and Vietnam, while also agreeing with China to temporarily lower tariff levels on each other’s products that had gone well over 100%. 

Today, Taoiseach Micheál Martin said he was “hopeful” that the EU and US could reach a deal on trade following an update from European Commission President Ursula von der Leyen. 

Tánaiste and Minister for Foreign Affairs and Trade Simon Harris said that he had also been briefed on the EU-US negotiations.

In a statement this evening that showed the uncertainty caused by the inconsistent position of the US, Harris said while he had been briefed ahead of the expected Wednesday deadline, “My understanding is that we can now expect an extension of the current status quo until 1 August”. 

Harris stressed that tariffs at even low levels would be “bad for consumers, jobs, economic growth and investment”. 

“The uncertainty is also bad for economic confidence and Irish businesses seeking clarity on the trading environment in which they operate. 

“We have consistently called for zero-for-zero tariffs in as many areas as possible and I know the EU has advocated this course of action.

He said that “uncertainty continues” around many areas of US-EU trade, including the pharmaceutical sector.

“This is obviously an area of significant concern to Ireland,” he said, referring to the US pharmaceutical companies based in Ireland.

With reporting from AFP