The impending expiration of the 90-day tariff pause on July 9 has created uncertainty for U.S. consumers and investors. President Trump's administration has not met its goal of "90 deals in 90 days." His recent tariff announcements sparked global panic, with the S&P losing $5 trillion in value. New trade agreements with countries like China and the U.K. are announced, but details remain unclear. Experts warn that current tariff rates may lead to increased consumer costs over the summer, with further increases likely after the July deadline.
The countdown to the 90-day freeze on sweeping Liberation Day tariffs expires next week, and President Donald Trump's administration is a far cry from its "90 deals in 90 days" goal.
Investors have grown accustomed to the "TACO," or Trump Always Chickens Out trade, where markets fall when Trump announces steep tariffs on imports and then jump back up when he pauses them.
"Time's ticking to get deal frameworks in place," Wedbush Securities Senior Equity Research Analyst Dan Ives told Fortune. "Even though the market has shrugged it off, for businesses that operate every day, there's massive unknowns and a lot of white knuckles.
Economists already expect current tariff rates to increase costs on consumer goods this summer - these prices could increase further after July 9.
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