Trump pushes back August 1 tariff implementation, global markets hold breath.
President Donald Trump today deferred the implementation of proposed tariffs due August 1 on several countries, including EU members and BRICS nations. The extension aims to allow more time for negotiations but leaves global markets uneasy.
In ASEAN, Malaysia has firmly rejected compromises to its sovereignty but proposed deals—like purchasing Boeing aircraft—as trade leverage. Vietnam managed to secure a tariff reduction to 20%, while other Southeast Asian economies remain in limbo.
EU officials are preparing retaliatory tariffs to safeguard their own industries in case agreements fail. Brussels and Washington are reportedly close to finalizing preliminary agreements on cars, medical devices, and steel, though broader clarity remains elusive.
Critics warn that while the delay might open space for diplomacy, it also prolongs economic uncertainty. Analysts caution that continued ambiguity could undermine investor confidence and strategic planning worldwide.
I’m Adedayo Obadina
Talksocialtalks
