Breaking News Live: Trump warns tariffs to take effect from August 1, 2025; says no extensions will be granted

In a bold announcement, former President Donald Trump declared that a new set of tariffs will be implemented starting August 1, 2025. Trump emphasized that there will be no extensions granted, signaling a firm stance on trade policies aimed at boosting domestic industries. This move is expected to have significant implications for international trade relations, with businesses across various sectors keenly monitoring the situation. The decision has already sparked a flurry of reactions from both domestic and international stakeholders. Economists and trade experts are analyzing potential impacts on global supply chains, particularly concerning U.S. relations with key trading partners. Meanwhile, businesses are preparing for potential disruptions and evaluating strategies to mitigate the effects of increased costs due to the impending tariffs. As the deadline approaches, the administration's unwavering position could lead to intensified negotiations with affected countries. This development underscores the ongoing complexities of global trade dynamics and highlights the broader geopolitical tensions at play. With no extensions on the horizon, all eyes will be on how these tariffs reshape economic alliances and influence the global market landscape.

— Authored by Next24 Live