Trump mulls 35% tariffs on Japan, may not extend July 9 tariff deadline

FXStreetJul 1, 2025 7:41 PM

US President Donald Trump hit the newswires hot and fast on Tuesday, mulling over the possibility of adding additional tariffs on Japan and not extending the self-imposed July 9 deadline on the currently-suspended reciprocal tariffs.

Key highlights

Trump: Not thinking about extending July 9 deadline.

Doubt there will be a deal with Japan.

Japan could pay 30% or 35% tariff.

Possibly will have a deal with India.

Have two or three top choices for Federal Reserve (Fed) Chair.

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