#TrumpTariffs 🔔 Key Developments

New Deadline Set for August 1

Trump has delayed implementation of “reciprocal tariffs” (ranging from 10% up to 70%)—originally slated for July 9—to August 1, sending warning letters to countries to finalize deals before then .

Limited Deals Achieved

So far, narrow deals have been struck with the UK, Vietnam, and China (on rare earths), with talks underway with the EU and India .

Broad Tariff Coverage

Since Apr 2 ("Liberation Day"), the average U.S. tariff rate climbed to ~27%, peaking above 50%, the highest in over a century . As of mid‑June it's around 15.8% after some rollbacks .

---

🌍 Economic & Business Impact

Companies Hit Hard

A JPMorgan analysis estimates $82.3 billion in extra costs for mid-sized U.S. companies, potentially passed onto consumers via price hikes, layoffs, or squeezed margins .

Consumer Pain

Tariffs may act like a regressive tax—adding an extra $3,800 annually to an average family’s expenses—by inflating costs on clothes, produce, vehicles, etc. .

Markets & Inflation

Despite tariff pressures, U.S. inflation remains around 2.4% and the labor market remains solid. However, market volatility continues due to policy uncertainty .