In case you forgot:
President Trump's 90-day tariff pause now only has 13 days remaining.
This means without any new trade deals, on July 9th, tariff rates will rise as follows:
1. Country-specific "reciprocal tariffs" return
2. Tariffs of up to 50% on EU imports
3. 30% tariffs on Chinese imports remain in effect
4. Global 10% baseline tariffs remains in effect
The S&P 500 is now ~1,200 points higher than it was on April 9th, when the 90-day pause was announced.
The trade war will soon take the spotlight again.