The future of US action has fallen on Friday after President Donald Trump has said it will begin Sending letters informing the countries about what tariffs they will face.
On Thursday, he told reporters that “10 or 12” letters would come out on Friday, with additional letters “over the next few days”. The rates will become effective on August 1.
“They will move worth of maybe 60 or 70% tariffs to 10 and 20% tariffs,” Trump added.
While US markets were closed for the July 4 holiday, the future is tied to Dow The industrial average of Onesons fell by 251 points, or 0.56%. The future of S&P 500 decreased by 0.64%and Nasdak The future fell by 0.68%.
US oil prices dropped 0.75% to $ 66.50 a barrel, and crude Brent lost 0.41% to $ 68.52. Gold reached 0.11% to $ 3,346.70 an ounce, while the US dollar fell 0.16% compared to the euro and 0.30% compared to the yen.
The Trump administration is negotiating with top trading partners after the president put his tariffs “release day” for a 90 -day break.
That return will expire on Wednesday, July 9, only a few limited trade deals have been announced, and negotiations with other countries were expected to take more time.
So, as the deadline on Wednesday approached, Wall Street expected Trump to announce the extension of the tariff break by Tuesday, reviving him The so -called trade with Taco It alludes to his history to withdraw from his maximalist threats.
“We suspect that additional concessions will be made at the last minute to allow expansion to most countries, but some of the” worst perpetrators “may be set aside for penitentiary,” analysts in Capital Economics predicted earlier this week. “Markets seem to be positioned for a pretty benign outcome, which implies the risk of some close turbulence if that fails to come true.”
This assumes that Trump will not risk repeating the epic sale of April, which was caused by his tariffs for the Liberation Day, and the capital economy also warned that such an assumption could be complacent.
In fact, Trump has been saying for weeks that he prefers to unilaterally set tariffs with each country, rather than dealing with negotiations with them all. But in conditions of absence of any letters, markets rejected the risk of those tariffs to increase again.
However, Trump constantly beats the drum for letters. In an interview broadcast on Sunday, He was asked about the tariff break and the deadline.
“I prefer to send them a letter, a very fair letter, saying:” Congratulations, we will allow you to trade in the United States. Wille salaries of 25% or 20% or 40% or 50% or 50%, “Trump replied. “I would do it more.”
Asked if the break would not be extended, he said: “I think I shouldn’t because – I could – there is no big deal.”
Trump further clarified his stance on the deadline of July 9, saying, “I send letters. That’s the end of the trade agreement.”
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