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President Trump’s top economist told Yahoo Finance that he doesn’t expect the aggregate tariff rate to fall materially below 10% and that the White House may extend the negotiating period for some countries engaging in trade talks.
“My expectation would be that for countries that are negotiating in good faith and making progress, that rolling back the deadline makes sense,” Council of Economic Advisers chairman Stephen Miran said on Yahoo Finance’s Opening Bid. “I mean, you don’t blow up a deal that’s that’s in process and making really good faith, sincere, authentic progress by dropping a tariff bomb in it.”
In recent weeks, President Trump and administration officials have signaled some leeway in the July 9 tariff deadline as investors remain on watch for the return of “Liberation Day” tariffs that roiled markets.
All three major averages were higher in afternoon trading, with the S&P 500 (^GSPC), Dow Jones (^DJI), and Nasdaq (^IXIC) up around 0.7%.
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