Trump tariff deadline extended as new threats issued

The day for Trump's tariffs to instrumentality effect has been extended, with deals being sent to countries from Monday evening, the president said.

The 90-day intermission connected country-specific taxes connected US imports was owed to extremity connected Wednesday, but alternatively volition expire connected 1 August, the Trump medication said.

Money blog: 'I get paid to sensation biscuits'

The US president's signature economical argumentation of tariffs meant countries crossed the satellite were deed with idiosyncratic tariffs, causing havoc with planetary trade.

But Mr Trump appeared to beryllium successful deal-making mode aboriginal Monday, posting connected his societal media network, Truth Social, that countries would person "letters and/or deals" from 5pm UK time.

However, helium besides made an further menace of an other 10% tariff for "any state aligning themselves with the anti-American policies of BRICS".

Follow The World

Listen to The World with Richard Engel and Yalda Hakim each Wednesday

Tap to follow

Market reaction

The BRICS (Brazil, Russia, India, China, South Africa) organisation of countries besides includes Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates.

Reaction has been acold much muted than the large marketplace moves erstwhile the country-specific tariffs were announced connected 2 April's "Liberation Day" announcement, but the quality has not been welcomed.

Many large banal indexes successful Asia closed down, portion the UK's benchmark scale of 100 astir invaluable London Stock Exchange-listed firms, the FTSE 100, fell astir 0.1% connected the open.

BRICS members India saw its NIFTY 50 scale autumn 0.1%, China saw its Shenzhen Component shed 0.7%, and Hong Kong's Hang Seng scale mislaid 0.23%.

Read more:
What happens to your pension erstwhile you die?
Take distant government's power of redress schemes, accidental Post Office victims

The Shanghai Composite, however, was up 0.02%.

Based connected pre-market trading, US stocks look acceptable to unfastened down.

Deals

While the UK reached an agreement with the US to circumvent the worst of tariffs, galore of the world's largest economies are yet to onslaught a deal.

The European Union, India, Japan and Canada person yet to scope an agreement.

An agreement with China, the world's 2nd biggest economy, has held contempt allegations of deal-breaking connected some sides.