What's happened
President Trump has signed an executive order delaying tariff hikes on imports until August 1, 2025, following a request from Treasury Secretary Scott Bessent. This decision comes amid stalled trade negotiations with several countries, raising concerns about the administration's strategy and the economic impact of the tariffs.
What's behind the headline?
Current Situation
- Trump has delayed tariff hikes to allow more time for negotiations with trading partners.
- The administration's claims of securing numerous trade deals have not materialized, raising skepticism.
Implications
- The delay may provide temporary relief but signals ongoing instability in trade relations.
- Analysts predict that the tariffs, if implemented, could significantly impact consumer prices and the economy.
Future Outlook
- The administration's approach to tariffs as leverage may continue to create uncertainty in international trade.
- The effectiveness of this strategy remains to be seen, as many countries are still negotiating under pressure.
What the papers say
According to Andrew Feinberg in The Independent, Trump’s decision to delay tariffs was influenced by Treasury Secretary Scott Bessent, who emphasized the need for more time to negotiate favorable trade agreements. Meanwhile, John Bowden notes that the administration has struggled to finalize significant deals, with only a few agreements emerging since the initial tariff announcement. The Guardian highlights that the anticipated tariffs could be the highest seen since the 1930s, indicating a potential economic shift. Politico adds that Trump's ambivalence about the July deadline reflects a broader tension between his tariff strategy and his reputation as a dealmaker. For a deeper dive into the implications of these tariffs, see the full articles from The Independent and The Guardian.
How we got here
The Trump administration initially announced steep tariffs on imports in April 2025, which were paused for 90 days due to market reactions. As the deadline approaches, few trade agreements have been finalized, leading to uncertainty about future tariffs.
Go deeper
- What are the potential impacts of the delayed tariffs?
- How have other countries responded to Trump's trade policies?
- What trade agreements are currently in negotiation?
Common question
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What are the impacts of US trade tariffs on the global economy?
As the Trump administration prepares to impose new tariffs following a 90-day pause, many are left wondering how these changes will affect consumers, businesses, and the global economy. With promises of trade agreements falling short, the implications of these tariffs are becoming increasingly significant.
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What is the Economic Impact of the New US Trade Tariffs?
As the Trump administration prepares to impose new tariffs following a 90-day pause, many are left wondering about the economic implications. With concerns about inflation, consumer prices, and international relations, it's crucial to understand how these tariffs will affect various sectors and what businesses can do to adapt.
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How Are US Tariffs Affecting Global Trade and Markets?
As global trade tensions rise, particularly between the US, South Korea, and Japan, many are left wondering how these tariffs will impact markets and economies worldwide. This page explores the latest developments in trade relations, the implications of tariff delays, and the potential outcomes of ongoing negotiations.
More on these topics
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Donald John Trump is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
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The United States of America, commonly known as the United States or America, is a country mostly located in central North America, between Canada and Mexico.
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Scott K. H. Bessent is an American hedge fund manager. He is the founder of Key Square Group, a global macro investment firm, and worked as a financier for George Soros.
Bessent has been a major fundraiser and donor for Donald Trump. He was an economic ad