Trump Tariff Deals Near July 9 Deadline Likely Fall Short

As the July 9 deadline approaches for the resumption of President Donald Trump's country-specific tariffs, the White House is expected to fall short of delivering the sweeping global trade reforms it initially promised. Although agreements with up to a dozen major trading partners may be announced, these deals are anticipated to be limited in scope, addressing only select issues and deferring many details to future negotiations, similar to prior accords with China and the UK. Trump has issued ambiguous signals about which countries are close to agreements and which may face increased tariffs, contributing to uncertainty among investors and global markets. Treasury Secretary Scott Bessent indicated that around 20 countries might be granted extensions to negotiate beyond the deadline, but tariffs could rise if they are not seen as negotiating in good faith. President Trump himself has expressed flexibility on the deadline, stating that it could be extended or shortened at his discretion. The delay in finalizing comprehensive trade deals comes at a sensitive moment for the U.S. economy, with concerns growing over tariff-induced price hikes affecting consumer spending and economic stability.