#TrumpTariffs President Donald Trump has announced a temporary 90-day suspension of tariffs on 75 trade partners who have not retaliated against his administration's tariff policies. However, there are still some important points to note about Trump's new tariff policy:
- *Tariffs on countries*: The U.S. will impose a 10% import tax on all countries, except China, which will face higher tariffs.
- *Extension of the tariff suspension period*: The Trump administration is considering extending the 90-day suspension of tariffs for America's top trade partners, provided these countries demonstrate "goodwill" in negotiations.
- *Trade agreement*: The U.S. has announced a framework trade agreement with the UK and China, but full details have yet to be released.
Some potential impacts of Trump's new tariff policy include ¹ ²:
- *Impact on the global economy*: Trump's new tariff policy could significantly affect the global economy, particularly developing countries.
- *Impact on the stock market*: The stock market has experienced significant fluctuations following Trump's announcement of the tariff suspension.
- *Impact on inflation*: U.S. consumer prices rose less than expected in May, indicating that Trump's tariffs have not yet had a significant impact on inflation.