July 1, 2025- The pause on Trump’s sweeping global tariffs expires in about 10 days, with one deal and one temporary truce in hand, and the rest of the world in varying states of limbo, according to Axios. President Donald Trump roiled markets on April 2, which he dubbed “Liberation Day,” when he imposed tariffs of as high as 50% on nearly every country, before announcing a 90-day reduction in a stunning reversal just a week later. That pause, however, is ending July 9, and Trump said in a Sunday interview on Fox News, taped Friday, that he doesn’t intend to extend the deadline—although, he added, “I could, no big deal,” according to TIME Magazine.
The narrower, piecemeal plan for new deals marks a retreat from the White House’s vow to strike 90 trade deals during the 90-day pause in the sweeping “reciprocal” tariffs the president announced on April 2. But it also offers some countries a chance to strike modest agreements. The administration would seek “agreements in principle” on a small number of trade disputes ahead of the deadline, according to Financial Times.