#TrumpTariffs
🛃 Key Updates
1. New Tariff Letters Set to Go Out
President Trump’s administration is preparing to send notification letters—covering around 100 countries—by July 9, outlining tariff changes ranging from 10 % up to 70 %. If trade deals aren’t reached by August 1, these tariffs will be implemented .
This includes an extra 10 % surcharge on imports from countries aligning with the BRICS bloc (China, India, Russia, etc.) .
2. Shifting Deadlines Fuel Uncertainty
While initial tariffs were announced in April with a July start, the administration is now pushing enforcement to August 1, while stressing that this isn't a delay but a firm enforcement date .
Critics call this shifting messaging a negotiation tactic—or theatrics. Commerce Secretary Lutnick and Treasury Secretary Bessent stepped in to clarify the administration’s intentions .
3. Global Market Jitters
U.S. stock futures dipped and the greenback strengthened following these announcements .
Investors remain on edge, wary of how economic dynamics—such as inflation concerns, possible stagflation, and growth risks—might unfold .
4. Mixed Trade Progress
The administration has struck deals with the U.K. and Vietnam, with limited understandings reached with China. Negotiations with India and the EU are ongoing .
Countries like Thailand and others are already offering concessions to avoid tariffs .
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Why It Matters
For U.S. businesses and consumers: Research points to an estimated $82 billion in added costs for employers, potentially leading to rising prices or wage/production cuts .
Economy-wide toll: A new analysis suggests these tariffs could increase the average U.S. household cost by ~$1,200 in 2025, with broader drag on GDP & inflation .
Legal pushback: Some of the earlier “Liberation Day” tariffs were struck down by the Court of International Trade under IEEPA, though others (like Section 232/301 tariffs) remain in force .
