Goldman Sachs Chief Economist: Trump Unlikely to Reinstate "Reciprocal Tariffs" on July 9

Goldman Sachs Chief Economist Jan Hatzius predicts that Trump will not reinstate "reciprocal tariffs" on July 9. Speaking at an event hosted by the conservative think tank American Enterprise Institute, Hatzius suggested that the White House is more likely to extend negotiations with trade partners rather than strictly enforce the July 9 deadline. Hatzius's team estimates that the overall U.S. tariff rate has already increased by about 10 percentage points this year. "We expect an additional 4 to 5 percentage point increase due to the targeted 25% tariffs on industries such as semiconductors, telecommunications equipment, pharmaceuticals, and copper. These are significant additional tariffs that we believe will still be implemented." (Jin10)