Desk Report,
There are only a few days left before the 90-day deadline that President Donald Trump has given to reach a trade deal with the United States ends. What will happen after the deadline expires at 12:01 am on July 9 is still uncertain.
What will happen after this deadline has passed is now a matter of ‘anyone’s imagination’. However, there is tension in the global economy regarding this.
On April 2, Donald Trump imposed retaliatory tariffs on products from major US trading partners, in some cases up to 50 percent. Trump called that day America’s Independence Day. In reality, it was the highest tariff in more than 100 years. Economists fear that this will soon trigger a global recession.
Wall Street is nervous about the tariffs taking effect on April 9. It also has an impact on the bond market. Then Trump announced a three-month suspension of the retaliatory tariffs. He said that investors were very nervous and afraid, which is why he backed down.
Since then, at least 10 percent tariffs have been imposed on almost all goods imported into the United States. However, the damage to the stock market has not been overcome. The inflation rate has also not changed. If tariffs increase again and inflation increases, all the achievements could be erased.
After many meetings and discussions, it was said that agreements were reached with several countries. But so far, only three agreements have been announced, one of which is with Vietnam, and that agreement has not been finalized, and no details are known.
There are only a few days left before the 90-day deadline that President Donald Trump has given to reach a trade deal with the United States ends. What will happen after the deadline expires at 12:01 am on July 9 is still uncertain.
What will happen after this deadline has passed is now a matter of ‘anyone’s imagination’. However, there is tension in the global economy regarding this.
On April 2, Donald Trump imposed retaliatory tariffs on products from major US trading partners, in some cases up to 50 percent. Trump called that day America’s Independence Day. In reality, it was the highest tariff in more than 100 years. Economists fear that this will soon trigger a global recession.
Wall Street is nervous about the tariffs taking effect on April 9. It also has an impact on the bond market. Then Trump announced a three-month suspension of the retaliatory tariffs. He said that investors were very nervous and afraid, which is why he backed down.
Since then, at least 10 percent tariffs have been imposed on almost all goods imported into the United States. However, the damage to the stock market has not been overcome. The inflation rate has also not changed. If tariffs increase again and inflation increases, all the achievements could be erased.
After many meetings and discussions, it was said that agreements were reached with several countries. But so far, only three agreements have been announced, one of which is with Vietnam, and that agreement has not been finalized, and no details are known.
