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Trump trade war - tariff deadlines & key upcoming events

The twists and turns in US President Donald Trump's tariff policies have rattled global financial markets
The twists and turns in US President Donald Trump's tariff policies have rattled global financial markets

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

Companies are counting the cost of the trade war that is now being estimated at more than $34 billion in lost sales and higher expenses, a Reuters analysis showed.

Adding to the uncertainty are tariff-related legal challenges and Trump's assertion that he would hammer out bilateral deals with trade partners, even though agreements remain elusive, save a pact with Britain this month.

Here's a timeline for key upcoming events and dates that could have a bearing on the US tariff policy:

June 11, 2025 - Trump says US deal with China is done, with Beijing to supply magnets and rare earth minerals.

A White House official said the agreement allows the US to charge a 55% tariff on imported Chinese goods, while China would charge a 10% tariff on US imports. The deal is subject to final approval from President Trump and Chinese President Xi Jinping.

June 15-17 - Trump will attend the annual summit of G7 nations in Canada. The summit will be hosted at the Rocky Mountain resort town of Kananaskis, Alberta, with tariffs expected to be a major topic of discussion.

July 8 - "Liberation Day" tariffs to take effect following the 90-day suspension period, potentially affecting imports from multiple countries.

July 9 - Deadline for US and the European Union to negotiate a deal to avert 50% tariff duty on all EU imports.

July 14 - The EU's 90-day pause on its own retaliatory tariffs to end.