Our Observations
The 90-day window set by U.S. President Donald Trump for major trading partners to secure new trade agreements is set to expire on 9 July. While initially framed as a hard deadline, recent developments suggest that limited extensions may be granted—though only to countries deemed to be actively negotiating in good faith.Market Implications
The tariff range under consideration spans from 10% to as high as 70%, depending on the industry and negotiations. If imposed, these tariffs could have far-reaching implications across sectors, especially for trade-linked industries such as manufacturing, autos, and semiconductors.What Can Investors Do?
The expiry of the tariff deadline on 9 July will unlikely be the end of the Trump's populist trade and economic policies. We expect markets to remain sensitive to signals of progress or escalation in trade negotiations. Investors should continue to focus on building well-diversified portfolio anchored in quality and income-generating assets.
Our positioning remains focused on maintaining resilience amid shifting trade policies, with a close watch on developments that could influence risk appetite and capital flows globally.