#TrumpTariffs

📅 What's Happening NOW?

**⏰ Deadline drama**: Trump set a July 9 “deal or letter” cutoff—but Treasury Sec. Scott Bessent pushed actual tariff implementation to August 1, warning that countries who don’t finalize deals by then will revert to April-level tariffs (10‑50% baseline, up to 70%) .

Letters flying out: From July 7 at noon ET, the U.S. will send “tariff letters” to ~12–100 countries, outlining new import duties slated for Aug 1 unless a deal is reached .

Tariff amounts: Could range from 10% up to 70%! Plus Trump threatens an extra 10% surcharge on any country siding with BRICS (“anti‑American” stance) .

🌐 Global Response & Context

Market vibes: Investors are jittery—dollar volatile, Aussie/NZ currencies dipping on trade uncertainty .

Negotiations ongoing: UK, China, and Vietnam have ~preliminary agreements. Talks continue with EU, India, South Korea, Japan—but few deals are sealed .

UK steel alert: Talks with the UK on steel/aluminum quotas have stalled, raising the risk of a 50% tariff if no deal by July 9 .

🔥 Bottom Line in Street Talk

Tariff timeline: 🔄 July 9 = deal letter deadline. August 1 = tariffs kick in (10‑70%, bracketed by extra BRICS surcharge).

Who’s in the hot seat: A dozen to 100 countries—especially those near BRICS or slow with deals.

Markets: Reacting with cautious pessimism—dollar wobbling, equities shaky.