US President Donald Trump said he would unilaterally set new tariff rates within two weeks, reigniting global trade fears shortly after agreeing a truce with China.
Trump’s latest threat, which sent stocks lower, came as the European Union acknowledged negotiations with Washington would likely extend past a July deadline, when a 90-day suspension of Liberation Day duties expires.
CNBC also noted that the White House’s framework agreement with Beijing leaves tariffs on goods from China at 55%, too high for many American importers to bear.
The latest “slow grind” of US trade pronouncements “may be less turbulent than this past spring’s drama,” a Reuters columnist noted, “but [is] no less worrying for investors.”
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