#TrumpTariffs : Deadline Looms, Global Trade on Edge 🌍🚨

The July 9th deadline for the 90-day suspension of new Trump-era tariffs is upon us, and the global trade landscape is bracing for impact!

What's Happening Now?

* Letters Going Out: The Trump administration began sending out "take it or leave it" letters to 12-15 countries on Monday, detailing their specific reciprocal tariff rates. These new rates are expected to kick in from August 1, 2025, for nations that haven't reached a deal.

* Deals Made (Few): So far, only the United Kingdom and Vietnam have finalized new trade agreements that see their tariffs adjusted. Vietnam's deal reportedly includes a 20% tariff on its exports to the US, while US goods enter Vietnam duty-free.

* India in Talks: India and the US are in the "conclusion phase" of a "mini trade deal" to avoid India facing a 26% tariff from August 1. Sensitive sectors like dairy and agriculture are likely to be excluded from this initial agreement.

* EU & Japan Stalled: Discussions with major trading partners like the European Union and Japan have reportedly reached an impasse.

* BRICS Targeted: Trump has threatened an additional 10% tariff on countries aligning with what he terms "anti-American policies" of the BRICS bloc.

The Stakes:

* Economic Impact: Analysts predict significant costs for US employers, potentially leading to higher prices, layoffs, or reduced profit margins. The tariffs could reduce US GDP and increase average household costs.

* Supply Chain Disruptions: Businesses worldwide are facing uncertainty and re-evaluating supply chains as they grapple with potential new duties.

* Legal Challenges: The legality of some of these tariffs is being challenged, with some "reciprocal tariffs" already permanently enjoined by the US Court of International Trade.

The coming days will be critical as countries scramble to finalize agreements or face higher tariffs, impacting economies globally. Stay tuned! #GlobalTrade # #TradeWar #EconomicNews #Write2Earn! #WCT #BTC