Despite these efforts, the U.S. has managed to forge only two preliminary trade agreements, with Britain and Vietnam, both of which currently lack substantial detail. In the upcoming days, more limited trade agreements may be on the horizon, including an initial framework with India. Countries that have reached even minimal agreements thus far can expect reduced tariff rates compared to the more severe outcomes planned for those who have not complied.
While some countries may still be awaiting discussions, it is expected that they will face significantly higher tariffs unless negotiations improve swiftly. Trump and his economic advisers have suggested that the tariffs may not be enacted until August 1, providing a slight reprieve; however, this delay may not calm the anxieties of foreign governments or stabilize financial markets, which reacted negatively during the initial tariff announcements, prompting the temporary suspension. As the deadline draws near, the diplomatic landscape grows increasingly fraught, with potential consequences for global trade relations.
While some countries may still be awaiting discussions, it is expected that they will face significantly higher tariffs unless negotiations improve swiftly. Trump and his economic advisers have suggested that the tariffs may not be enacted until August 1, providing a slight reprieve; however, this delay may not calm the anxieties of foreign governments or stabilize financial markets, which reacted negatively during the initial tariff announcements, prompting the temporary suspension. As the deadline draws near, the diplomatic landscape grows increasingly fraught, with potential consequences for global trade relations.
