This July 9 concludes the 90-day pause that temporarily froze the new tariffs announced by the Trump administration, which could give way to a new wave of tariffs on imports. With the deadline looming, uncertainty is growing for consumers, businesses, and markets.

The measure, initially launched on April 2 and dubbed "Liberation Day" by the president, established a universal 10% tariff on almost all imports, with even higher charges for certain countries like Cambodia, which face tariffs of 49%. Meanwhile, country-specific tariffs have been suspended until July 9.

If bilateral trade agreements are not reached by midnight on July 9, additional country-specific tariffs will automatically begin to apply. This means a sharp increase in costs for goods from dozens of countries.

For example, Chinese imports are currently subject to a 30% general tariff. Without an agreement by the deadline, they could return to previous levels of up to 145%.

Impact on consumers and businesses

Economists warn that these increases could drive inflation, destabilize markets, and put small businesses that depend on imported inputs at risk.

“The threat of tariffs and this uncertainty causes capital to stay on the sidelines,” Clark Packard of the Cato Institute explained to CBS News. “You can't plan for the year if you don't know how much your products will cost next week.”

The outlook remains uncertain. Trump has threatened to impose a 50% tariff on imports from the European Union, which could provoke retaliation and trigger a trade war.

Although Trump has said that extending the pause “wouldn't be a big deal,” Some analysts do not rule out that certain countries will face new tariffs starting next week.

“The most likely outcome appears to be a combination of very limited agreements that allow the government more time without losing authority,” noted a report by Capital Economics.

Legal Risks

All of this is happening as Trump's trade policy faces legal challenges. In May, the Court of International Trade ruled that most of its tariffs are illegal. A federal court in Washington, DC, temporarily suspended the decision, but a final ruling is still pending.

For thousands of companies in the United States, this tariff limbo represents a brake on investment and planning. The next few hours will be key in determining which countries reach agreements, which face sanctions, and how the market will react.