BlackRock announces that Trump is willing to extend the 90-day deferment period for tariffs on China, a move that mirrors his tariff strategy towards the European Union. Previously, Trump stated he would impose a 50% tariff on the EU, which was then postponed to July 9, reverting to the 90-day negotiation window proposed in April. The U.S. Treasury Secretary also said that as long as trade partners negotiate in 'good faith', they are willing to extend the 90-day tariff deferment period beyond July 9.
Negotiations between the U.S. and the EU have made limited progress, with both sides holding firm to their positions. The same goes for negotiations with other trading partners, where officials often claim that an agreement is about to be signed, but so far only limited agreements have been reached with a handful of countries. It's unclear what Trump's strategy is with this tariff deferment period.
It seems that Trump doesn't have a good plan either, which is worth celebrating!!!!!!!!!!
