All had been so calm and quiet on the tariff wars front, right up until this past weekend when President Donald Trump unleashed a short but to-the-point tweet storm that addressed the current situation between the U.S. and China. In short, the countries have been having “productive” negotiations as they work towards a trade agreement. But, according to the president, those negotiations are happening too slowly. As such, Trump said that the new deadline for a deal—which was postponed “indefinitely” back in February—is now this Friday, May 10.
If that deadline comes and goes without a new deal, some $200 billion in goods that currently face a 10 percent tariff will see that rate rise to 25 percent.