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Finance

Trump's trade war: Tariff deadlines and key upcoming events

Published by Global Banking and Finance Review

Posted on July 7, 2025

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(Reuters) -The twists and turns in U.S. President Donald Trump's tariff policies have not only rattled global financial markets but also taken investors on a roller-coaster ride.

Adding to the uncertainty are tariff-related legal challenges and Trump's assertion that he will hammer out bilateral deals with trade partners.

Last week, the U.S. struck a framework trade agreement with the European Union, halving the earlier threatened rate to a 15% import tariff on most EU goods and averting a bigger trade war between the two allies that account for almost a third of global trade.

Earlier this week, Donald Trump imposed a 50% tariff on certain copper imports and suspended the "de minimis" exemption on low-value commercial shipments, the White House said.

With a blitz of tariff announcements this week, ranging from changes to previously threatened levies on imports from Brazil and South Korea to the 25% tariff rate on goods from India, Trump presses on with his bid to reshape global trade.

Here is a timeline for key upcoming events and dates that could have a bearing on U.S. tariff policy:

August 1:

A higher tariff rate on imports from several countries is set to take effect, following a postponement from the original July 9 implementation date.

August 8-10:

Trump said the United States would start imposing tariffs and other measures on Russia "10 days from today", if Moscow showed no progress toward ending its war in Ukraine.

August 12:

Trump will decide whether to extend a trade truce with China that expires on August 12, or potentially let tariffs shoot back up to triple-digit figures, escalating a trade war between the world's two biggest economies that threatens global growth.

August 29:

Under an executive order suspending the "de minimis" exemption, packages valued at or under $800 sent to the U.S. outside of the international postal network will face "all applicable duties".

(Reporting by Aatreyee Dasgupta, Sameer Manekar and Abhinav Parmar in Bengaluru; editing by Arpan Varghese, Anil D'Silva, Shinjini Ganguli, Maju Samuel and Pooja Desai)