Sløk's note published ahead of Donald Trump's announcement on Sunday that the President was not planning to extend a 90-day pause on tariffs on most nations beyond July 9, when the negotiating period he set would expire, and his administration will notify countries that the trade penalties will take effect unless there are deals with the United States.In a detailed post titled "Has Trump Outsmarted Everyone on Tariffs? ", Sløk noted that the Trump administration's strategy is maybe to maintain 30 per cent tariffs on China and 10 per cent tariffs on all other countries and then give all countries 12 months to lower non-tariff barriers and open up their economies to trade.Sløk noted that extending the deadline one year would give countries and US domestic businesses time to adjust to the new world with permanently higher tariffs, and it would also result in an immediate decline in uncertainty.This would seem like a victory for the world and yet would produce $400 billion of annual revenue for US taxpayers. July 9 is the deadline for United States and the European Union to negotiate a deal to avert 50 per cent tariff duty on all EU imports.So far, the twists and turns in the US President Donald Trump's tariff policies have not only rattled global financial markets but have also taken investors on a roller-coaster ride.
Author: Global Desk
Published at: 2025-06-29 19:43:00
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