A series of critical trade deadlines are fast approaching, with the potential to disrupt global trade futher as temporary US tariff suspensions edge toward expiration.
On July 9th, the 90-day halt on the “Liberation Day tariffs” will expire. During the pause, most countries – excluding China – benefited from a reduced 10% tariff. Without an extension, original penalty rates may return, such as 20% for the EU, 24% for Japan, 30% for South Africa, and 46% for Vietnam.
China’s situation remains the most concerning. Tariffs, which soared to 145% during the trade war, are currently under a separate suspension set to end on August 14th, which temporarily eased tensions between the world’s two largest economies.
The UK faces its own challenges. While its standard 10% rate will continue regardless, a temporary exemption from a 50% US tariff on British steel also expires July 9th. Although the UK remains hopeful for a permanent zero tariff deal, no commitments were made when President Trump ratified other parts of the trade pact earlier this month.
One positive note: the US did ratify that up to 100,000 UK-built cars annually can enter the country at a reduced 10% rate – a boost for a struggling auto sector that recorded its worst May in 70 years.
With multiple deadlines converging, decisive trade outcomes lie just ahead. The team at Global Freight Services are keeping a close eye on developments.
