President Trump says no extension to August 1 tariff deadline

(CNN, KYMA/KECY) - President Donald Trump's pause on his so-called "reciprocal" tariffs ends in just a couple of days.

On Friday, hundreds of countries will learn their fate with the United States when it comes to trade.

While countries work toward bespoke trade agreements with the U.S., some have already received warning letters from the administration that they will face higher rates unless they reach a deal before the deadline.

In a new social media post, President Trump said, "The August First deadline is the August First deadline...it stands strong, and will not be extended," calling it, "A big day for America."

To date, at least seven trading partners have reached a framework for a trade deal with the United States. This includes an agreement with the European Union, which was announced over the weekend.

Trade negotiations with China are ongoing.

Back in May, China agreed to temporarily lower tariffs on American goods from 125% to 10% while the U.S. agreed to lower tariffs on Chinese goods from 145% to 30%.

Trump struck a hopeful tone earlier this week when it comes to those specific negotiations.

"I just had a phone call from Scott Bessent and had a very good meeting with China and it seems that they're going to brief me tomorrow. We'll either approve it or not, but he felt very good about the meeting than he felt yesterday. Yesterday I said, 'Oh, here we go again. Here we go again,' but today it worked out," Trump said.

Delegations representing the two countries met for talks this week, concluding without a resolution.

The current deadline for a deal with China is August 12, but ahead of those talks, Treasury Secretary Scott Bessent suggested an extension there is likely.

If there's not an agreement, historic tariffs on each others imports could once again go into effect.