The 90-day deadline set by President Donald Trump for key trading partners to strike deals with the U.S. ends on July 9. Without finalized agreements, the U.S. plans to impose significantly higher tariffs on imports, a move that could shake global financial markets and push the world economy into turmoil.
U.S. Tariffs: A Historic Shock to Global Trade
Trump announced tariffs as high as 50%, marking the steepest rates the U.S. has implemented in over a century. Though a three-month pause was introduced after a market sell-off, only three trade deals have been revealed so far. Many nations are still racing against time to avoid economic fallout.
Global Trade’s Uncertain Future: Deals or Economic Recession?
As the deadline approaches, Trump has warned of new tariff rates ranging from 10% to 70% for countries that fail to reach agreements. If enforced, these tariffs could trigger a global slowdown and erase recent gains in stock markets.
Conclusion
The world awaits a critical decision from Washington. Will the Trump administration prioritize economic stability or double down on protectionist policies? Investors remain on edge as the trade deadline looms closer.
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