New Delhi, July 7 -- The White House announced on Monday (July 7) that it will formally delay the reimposition of tariffs until August 1, issuing an executive order to push back the original July 9 deadline. The decision provides a short-term reprieve to global trading partners amid ongoing negotiations with the Trump administration.

"The President will sign an executive order delaying the July deadline of tariffs to August 1," the White House said in a statement.

In addition to the delay, the administration revealed that 12 more countries will receive formal trade notification letters in the coming days. These letters will detail tariff levels that will apply to each country's exports unless new trade terms are negotiated.

The White H...