Goldman Sachs Chief Economist: Trump Will Not Restart 'Reciprocal Tariffs' on July 9

On June 19, Goldman Sachs Chief Economist Jan Hatzius predicted that Trump would not reinstate “reciprocal tariffs” on July 9. Speaking at an event at the American Enterprise Institute, a conservative think tank, Hazus suggested that the White House is more likely to extend negotiations with trading partners than to strictly enforce the July 9 deadline. Hazus’ team estimates that the overall U.S. tariff rate has risen by about 10 percentage points this year. “We expect another 4 to 5 percentage points of targeted tariffs of 25% on semiconductors, communication equipment, pharmaceuticals, copper, etc. This is a significant additional tax hike that we believe will still be implemented.” (Golden Ten)