♦️ The tariff policies pursued by U.S. President Donald Trump have led to violent shocks in global financial markets, taking investors on a turbulent roller coaster ride
♦️ U.S. and global companies have begun to calculate the cost of the trade war, which is currently estimated at over $34 billion due to declining sales and rising operating costs, according to an analysis by Reuters
♦️ The ongoing legal challenges related to tariffs, alongside Trump's repeated statements about his intention to reach bilateral trade agreements with partners, despite most of these agreements not yet materializing, except for an agreement reached with Britain this month, have increased uncertainty
♦️ Here is a timeline of the most important anticipated events and dates that may affect the future of U.S. tariff policy:
⏪ June 4
The recent increase in tariffs imposed on steel and aluminum imports goes into effect, raising them to 50% from 25% starting May 30
⏪ June 5 and 9:
A U.S. appeals court overturned a lower court's decision that had blocked the implementation of most tariffs imposed by Trump
The court ordered the opposing parties to respond by June 5, while the U.S. administration must submit its response by June 9.
⏪ June 15-17:
Trump is participating in the G7 summit scheduled to be held at the Kananaskis resort in Alberta, Canada, and tariffs are expected to be a key topic of discussion
⏪ July 8:
The so-called "Freedom Day tariffs" will go into effect after a 90-day suspension period, and these tariffs may affect imports from several countries
⏪ July 9:
The deadline for reaching an agreement between the United States and the European Union to avoid imposing a 50% tariff on all imports coming from EU countries
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