World Business Report The final countdown to President Trump's tariff deadline
Jul 31, 2025
As the tariff deadline looms, countries scramble to finalize trade deals to avoid steep tax hikes on exports to the U.S. The impact on the tech industry and small businesses is discussed, highlighting tough decisions and financial strain. Political dynamics complicate negotiations with Canada and Mexico, while predictions about the U.S. economic landscape reveal rising tariffs may influence GDP and job stability. The intricacies of new trade policies are explored, shedding light on potential challenges ahead.
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Urgency of Tariff Deadline
- President Trump's tariff deadline pressures countries to strike deals to avoid steep tax increases as high as 50%.
- Many countries remain uncertain, with last-minute negotiations ongoing and some deals yet to be finalized.
Tariff Deadline Chaos
- Despite announced deals, many remain unresolved as the deadline looms, causing uncertainty and possible tariff imposition.
- Experts expect many deadlines to be extended due to the complexity and unfinished negotiations.
Mexico's Tariff Delay Success
- Mexico successfully negotiated a 90-day delay on a planned 30% tariff hike with the US, avoiding immediate increased costs.
- This extension maintains current tariff rates, providing time for further discussions.