#TrumpTariffs
📌 Key Developments
1. August 1 Tariff Activation
Trump’s administration has delayed the reintroduction of the April tariff rates until August 1. Letters to trade partners are expected by July 9, warning that without finalized deals, tariffs will revert to April levels (10 % baseline with additional duties up to 50 %) .
---
2. Negotiations Still Underway
Deals have been secured so far with the UK, Vietnam, China (limited rollback), and potentially India. Talks with the EU are in progress to avoid triggering the steep tariffs .
---
3. Ongoing Legal Challenges
Most of Trump’s sweeping “Liberation Day” tariffs, imposed under IEEPA, were blocked by courts in late May. However, the administration has appealed and continues collecting duties under other authorities like Section 232 and 301 . Oral arguments are scheduled for July 31.
---
4. Economic & Market Impact
Businesses face uncertainty navigating potential 10–50 % tariffs starting August, affecting inventory, sourcing, and pricing .
Despite these pressures, inflation and economic growth have remained relatively stable, though risks loom if stockpiles run out .
U.S. dollar has seen a sharp decline—its worst start to a year since 1973—amplified by global concerns over tariff-driven economic policy .
---
🧭 Summary
Aspect Status as of July 7, 2025
Tariff Rollout 10 % baseline, higher rates resume on Aug 1 unless deals are struck
Diplomacy Multiple agreements done or in progress (UK, Vietnam, China, India, EU)
Legal Situation Court blocks on some tariffs, appeals ongoing; court hearing on July 31
Economic Effects Business uncertainty, modest inflation, dollar weakening
---
✅ What’s Next?
By July 9: Key letters and deadlines delivered to trade partners.
Between now and Aug 1: More deals could be announced to avoid escalation.
July 31: Federal appeals court hears arguments on legality of broad tariffs.