Tariff Deals on the Line

Trade Deadline: High-Stakes Talks 'Flawed' as President Issues Delay

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President Donald Trump set out early in his second term to fulfill a decades-long desire of reshaping US trade with the world, but the main outcomes so far have been discord and uncertainty.

The real estate tycoon, who has staked his reputation on being a consummate dealmaker, embarked on an aggressive strategy of punitive tariffs that his administration predicted could bring "90 deals in 90 days".

The score so far? Two. Three if you count a temporary de-escalation agreement with China.

The 90-day deadline was due on July 9, with dozens of economies, including the European Union, India and Japan, facing tariff hikes without a deal.

But days before it arrived, Trump issued a delay to August 1. It was his second extension since unveiling the tariffs in April – reigniting the "Taco Theory" that has gained traction among some Wall Street traders.