<h1>US extends tariff suspension deadline to August 1 while imposing 25% duties on Asian allies</h1> The US extended its reciprocal tariff suspension deadline from July 9 to August 1, providing additional time for trade negotiations with multiple countries including a nation facing 26 percent tariffs. The administration simultaneously imposed 25 percent duties on goods from two Asian allies effective August 1, citing trade imbalances. Approximately 12 countries received notification letters regarding potential tariffs. The US and the affected nation are negotiating a bilateral trade agreement with a fall deadline for the first tranche, while working on an interim deal beforehand.