U.S. Extends Tariff Pause, Markets React to Trade Negotiations

U.S. President Donald Trump has announced new tariffs, including a 50% levy on copper imports and duties ranging from 25% to 40% on trading partners such as Japan, South Korea, Laos, and Myanmar, with implementation delayed to August 1 to allow for negotiation windows. These tariff threats have caused initial market selloffs, but investors remain cautiously optimistic as ongoing trade talks with key partners, including Canada and Southeast Asian nations, aim to prevent a full-blown trade war. The S&P 500 and Nasdaq futures have shown modest gains, reflecting hopes that the tariff delays will facilitate favorable trade agreements. Meanwhile, sectors like energy and technology have seen mixed but generally positive performance, with companies such as Nvidia approaching a $4 trillion market cap and Delta Air Lines beating earnings expectations. Despite the uncertainty, Wall Street has rebounded from earlier tariff-induced selloffs, supported by a resilient labor market and easing recession fears. Canada is actively pursuing new trade deals as a countermeasure against U.S. tariffs, with the possibility of imposing counter-duties if no agreement with Washington is reached.