Here’s the latest on Trump’s tariff delay and global pushback:
🔍 What’s going on?
- Former President Trump has postponed the implementation of “reciprocal” tariffs, originally slated for July 9, 2025, now pushed back to August 1, 2025, giving countries extra time to strike trade deals.Warning letters with proposed tariff rates—ranging from 25% to 125%—have been sent to about 14 nations including Japan, South Korea, Indonesia, Brazil, South Africa and more.
- Only two trade agreements, with the UK and Vietnam, have been finalized as of early July; talks with larger partners remain unresolved.
- Legal challenges are mounting: a U.S. court ruled parts of Trump’s tariff authority under the International Emergency Economic Powers Act (IEEPA) unconstitutional. Proceedings, including appeals, are expected through July 31. Meanwhile, lawmakers are considering the Trade Review Act to limit unilateral tariff power.
🌍 Global reaction: players pushing back
- The European Union has signaled it won’t accept coercive tactics. EU trade officials are preparing retaliatory duties and signaling readiness for “hardball” negotiation, including launching WTO cases. Brazil, under President Lula, is threatening mirror tariffs in response to U.S. import duties, citing national sovereignty and judicial independence.
- The United Nations’ International Trade Centre warns that these extensions deepens uncertainty, harming long-term investment decisions around the world.
📈 Market & business impact
- When the delay was announced, global stock futures dipped modestly: S&P 500 and Nasdaq futures fell ~0.4%, and EURO STOXX 50 futures lost about 0.6%. Meanwhile, Asian markets posted mixed results. The U.S. dollar strengthened slightly against currencies such as the Canadian dollar.
- In Europe, the FTSE 100 and Germany’s DAX both hit record highs on July 10, driven by optimism that markets are shrugging off tariff fears.
- Companies worldwide remain apprehensive. Unpredictable policy shifts are disrupting supply chain planning and delaying investments.
🐔 “TACO” — Trump’s growing trade reputation
- Critics have coined the term TACO—Trump Always Chickens Out—reflecting his pattern of making bold tariff threats, then delaying or walking them back. The strategy appears more about persuasion than enforcement.
✅ Bottom line
- Trump has delayed new tariffs until August 1, 2025, while warning of harsh rates if no agreements are reached.
- Few trade deals have been signed, and global players like the EU and Brazil are resisting.
- Market responses remain muted, though uncertainty continues to pressure businesses.
- Legal and legislative efforts are challenging presidential tariff authority in the U.S.
📊 Quick overview
| Topic | Status as of July 10, 2025 |
|---|---|
| Next tariff deadline | August 1, 2025 |
| Trade deals agreed | UK and Vietnam only |
| Countries flagged | Japan, South Korea, Brazil, others with proposed tariffs up to 125% |
| Legal pushback | Federal court rulings, appeal pending; Trade Review Act proposed |
| Global posture | EU, Brazil, UN criticizing unilateral strategy |
| Markets | Mixed → slight hesitation, equities still rally in parts |
Let me know if you want to dig into specific countries, legal proceedings, or global reactions.
