The 90-day pause on reciprocal tariffs enforced by President Trump is set to expire shortly, leading to expectations of increases unless trade agreements are finalized. Administration officials have indicated tariffs will revert to their initial levels on August 1. The U.S. stock futures have started to decline in anticipation of market instability due to the tariff situation. U.S. Treasury Secretary expressed that tariffs will rise back to earlier levels unless meaningful trade negotiations occur soon, while Commerce Secretary stated that the president is in charge of determining future rates.
President Trump’s 90-day pause on reciprocal tariffs is nearing its end, with officials indicating that tariffs will return to previous levels unless trade deals are reached.
Trading partners have a limited timeframe to negotiate with the U.S., as tariffs are set to revert back to their April 2 levels on August 1.
Market reaction includes a drop in U.S. stock futures as investors proceed with caution amid uncertainties surrounding the impending tariff changes.
U.S. Treasury Secretary indicated rates will 'boomerang back' to previously high levels if trade negotiations do not materialize before the deadline.
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