Trump's government temporary postpones tariffs
(MENAFN) Donald Trump’s administration had boldly pledged to secure “90 deals in 90 days” after it decided to temporarily halt the rollout of what the president termed “reciprocal” tariffs. Yet as the first key deadline of July 9 approaches, the reality falls short—fewer than nine agreements are expected to be finalized.
A major signal of retreat has come through an extension of that deadline. Initially set for Wednesday, it has now been pushed to August 1, with further delays still possible. This move has been widely seen as an indicator that the ambitious trade agenda is faltering.
From the American standpoint, the emphasis has been on 18 countries believed to be behind 95% of the U.S. trade imbalance, according to officials. The new batch of notices sent out to these trade partners appears to be a revamped version of the White House’s previously infamous “Liberation Day” strategy board.
The proposed tariff rates mirror those disclosed back on April 2. That earlier formula, which controversially used the size of a country’s trade surplus with the U.S. as a stand-in for “the sum of all trade cheating,” remains at the heart of this strategy.
Unlike previous announcements that caused market volatility, this round of delays has not rattled financial markets to the same extent. Analysts have grown used to these postponements, often referring to the theory known as TACO—Trump Always Chickens Out. Still, the perception of constant hesitation may only encourage other nations to stall as well, potentially setting the stage for fresh tensions.
The broader point revealed through these latest developments is the Trump administration’s failure to secure tangible trade achievements. The letters sent to other nations are widely interpreted as a concession of that failure.
While the U.S. aims to project a tough stance, many other nations are responding with similar firmness. Japan and South Korea were the first two to receive the updated letters, which essentially unravel elements of their existing trade arrangements with the United States.
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