TIMELINE-Trump trade war: Tariff deadlines and key upcoming events
U.S. President Donald Trump's tariff policies have caused significant disruptions in global markets, with estimated losses exceeding $34 billion. Trump announced that the U.S. is nearing several trade agreements and will soon notify countries of increased tariffs, including a 10% surcharge for nations aligned with BRICS. Key upcoming dates include July 9 for tariff notifications, July 14 for the end of the EU's pause on retaliatory tariffs, and August 1 for the implementation of higher tariffs on imports from various countries.
July 7 (Reuters) - The twists and turns in U.S. President Donald Trump’s tariff policies have not only rattled global financial markets but have also taken investors on a roller-coaster ride.
Companies are counting the cost of the trade war that is now being estimated at more than $34 billion in lost sales and higher expenses, a Reuters analysis showed.
Adding to the uncertainty are tariff-related legal challenges and Trump’s assertion that he would hammer out bilateral deals with trade partners.
On July 6, Trump said the U.S. is close to finalising several trade pacts in coming days and will notify other countries of higher tariff rates, as the previous July 8 deadline is delayed.
The president, in a post on Truth Social, also said countries aligning themselves with the “Anti-American policies” of BRICS will be charged an additional 10% tariff.
Here’s a timeline for key upcoming events and dates that could have a bearing on the U.S. tariff policy:
July 9: The White House to notify other countries of higher tariff rates.
Deadline for United States and the European Union to negotiate a deal to avert 50% tariff duty on all EU imports.
July 14: The EU’s 90-day pause on its own retaliatory tariffs to end.
August 1:
A
higher tariff rate
on imports from several countries is set to take effect, following a postponement from the original July 9 implementation date.