On Tuesday, President Trump renewed threats that he may stick to his self-imposed July 9 deadline for making trade deals and issue new tariff levels to trading partners, forgoing another pause to "Liberation Day" duties.

"No, I'm not thinking about the pause," Trump said aboard Air Force One when asked if he would extend the tariff pause, per Bloomberg. "I’ll be writing letters to a lot of countries."

The president's comments come after a Financial Times report Tuesday suggested that Trump's team is no longer aiming for big trade deals with many countries. Instead, they are trying to make smaller, quick agreements before July 9, when Trump plans to bring back his toughest tariffs.

These mini deals could help countries avoid those harsh levies, but partners would still face existing tariffs while talks continue. Talks continue to take place, and Trump is still threatening new tariffs on key sectors like cars, steel, and aluminum — and on key trading partners like Japan.

Trump stated that his team would force Japan to accept higher tariffs of "30%, 35% or whatever the number is that we determine." Notably, that proposal is higher than the 24% "Liberation Day" level and the current baseline 10% tariffs in place while the two sides negotiate.

“I’m not sure we’re going to make a deal," Trump said Tuesday. "I doubt it with Japan. They’re very tough. You have to understand, they’re very spoiled."

Top administration officials have been providing mixed signals on the malleability of the July 9 deadline while countries race to finalize talks. But on Monday, Treasury Secretary Scott Bessent had warned that "recalcitrant" countries would face a return of steep "Liberation Day" tariffs.
Meanwhile, the European Union has signaled it was willing to accept a 10% universal tariff on many of its exports but is seeking exemptions for pharmaceuticals, alcohol, semiconductors, and commercial aircraft as part of a trade deal, Bloomberg reported. The EU is also seeking quotas and exemptions to lower duties on autos, steel, and aluminum, the report said.

On the North American front, Canada scrapped its digital services tax on US technology companies, such as Apple (AAPL), Amazon (AMZN), and Alphabet (GOOG, GOOGL) late on Sunday. The White House said trade talks between the two countries had resumed after Trump threatened to cut off trade talks.