With United States President Donald Trump's self-imposed deadline for completing new trade agreements looming near, a senior White House official has asserted that the high-stakes tariff threats are all a "theatrical show" with no actual deadline, even as a number of countries, including India, prepare for the fallout of potential steep duties from August 1. According to a report by Politico, a source familiar with the White House trade talks, speaking on condition of anonymity, said there is no fixed timeline for concluding the ongoing negotiations. “There’s no deadline. It’s a self-imposed landmark in this theatrical show, and that’s where we are,” the insider said, adding that President Trump knows the “most interesting part of his presidency is the tariff conversation” and would not give it up “easily”.

Tariffs Can Go Upto 70 Per Cent, Trump Confirms

Despite the behind-the-scenes revelations, Trump on Friday (July 4) confirmed that he has signed the letters to 12 nations threatening them with tariffs next week unless deals are finalised. Although he did not disclose all names, New Delhi officials claim that India is probably on the list considering the inconclusive trade negotiations so far. In an interview with Reuters, Trump indicated that the new tariffs could reach 70 per cent up from previously mentioned 50 per cent, and would be put in place starting Aug. 1. "Different amounts of money, different amounts of tariffs," he explained, calling the notices 'take it or leave it' propositions. In a recent Fox News interview, Trump reiterated that the 90-day pause would not be extended. He said that instead of prolonging talks, his administration would begin notifying countries of new tariffs unless individual pacts are signed. “I’d rather just send them a letter, a very fair letter, saying, Congratulations, you’re going to pay a 25 per cent tariff, or 20 per cent, or 40 or 50 per cent,” Trump said.

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He said that although he was optimistic about sealing a "very big" deal with India, other countries such as Japan and Canada could see increased tariffs if negotiations collapse. Negotiations with Canada were cut short last week after Ottawa levied a digital services tax on US technology giants such as Amazon, Google, and Apple. Trump labeled the Canadian action as a "blatant attack" and threatened retaliatory tariffs within days. India's Commerce and Industry Minister Piyush Goyal said that both countries are discussing a "fair and equitable" agreement that safeguards India's economic interest while also addressing US interests. But sticking points remain, most notably Washington's insistence on broader access to India's agriculture and dairy economies, including genetically modified (GMO) foods sectors where India is hesitant because of food security and farm livelihood issues.

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Can India Beat Higher US Tariffs?

With only days left before the July 9 deadline, India's trade team has prolonged its stay in Washington as a last-minute attempt to clinch an agreement that can save billions of dollars worth of Indian exports from substantial new US tariffs. The White House has also presented new proposals to the European Union while pursuing parallel talks with Japan and other countries. With world markets waiting in the wings, everyone's now looking to see if New Delhi and Washington will fill final gaps or if India will actually get Trump's 'take it or leave it' tariff missive this week.