Global financial markets are facing renewed uncertainty as U.S. President Donald Trump’s tariff strategy continues to disrupt international trade dynamics. The president’s latest move, implementing “reciprocal” tariffs on exports from 69 trading partners, with import duties ranging from 10% to 41%, took effect on August 7, pushing U.S. import rates to their highest levels in over a century.
Trump’s aggressive trade stance has been further complicated by his preference for bilateral trade agreements and a growing number of legal challenges to the new tariffs.
Amid these tensions, Trump announced he expects to “come away with a deal” during talks with Chinese President Xi Jinping in South Korea on Thursday. U.S. officials confirmed that negotiators from both sides finalized a framework on October 26 for a potential trade agreement designed to halt escalating U.S. tariffs and China’s restrictions on rare earth exports.
Below is a summary of key upcoming dates that could shape future U.S. tariff policy:
- October 30: Trump and Xi will meet in South Korea amid optimism that their talks could lead to a breakthrough trade deal.
- November 1: A 25% tariff on all imported medium- and heavy-duty trucks will come into force. If no U.S.-China deal is reached, additional 100% tariffs on Chinese exports to the U.S., alongside new export controls on critical software, will also take effect.
- January 1, 2026: Existing 25% duties will rise further, increasing to 30% on upholstered furniture and 50% on cabinets and vanities from countries without trade agreements.
Economists warn that Trump’s evolving tariff agenda, while aimed at protecting domestic industries, risks heightening global trade tensions and unsettling investor confidence.
