One of President Donald Trump’s top economic voices has made it clear: tariffs are here to stay, and for countries unwilling to bend, the return of steep “Liberation Day” duties is very much on the table.
Stephen Miran, chairman of the White House Council of Economic Advisors, weighed in Thursday on what investors and markets have been watching closely, the future of tariffs as the July 9 deadline approaches.
Speaking to Yahoo! Finance, Miran said, “A few countries may be making such aggressive concessions. They convinced the president to lower tariffs below 10%. There are other countries that are just going to be stubborn and decide no. And then they’ll have the ‘Liberation Day’ tariff snap back up on them.”
He was referring to the sharp tariff levels that rattled markets back in April.
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The July 9 date marks the end of the 90-day negotiation window President Trump announced on April 9.
Miran acknowledged that, for now, no final decisions have been made, but he suggested investors should not expect major changes.
Some nations may see tariffs eased thanks to successful negotiations, while others, based on their stance, could face a reimposition of higher rates.
“It seems likely that there won’t be any dramatic changes,” Miran said, offering context on how outcomes will depend on how different countries engage with the administration.
Miran also pointed out that countries negotiating in good faith could see more time to reach agreements.
He noted, “I expect the Trump administration to extend the tariff deadline for countries that are negotiating in good faith and making progress,” emphasizing that the White House is focused on securing the kind of deals the president has long sought.
According to Miran, Trump remains committed to using tariffs as leverage to push U.S. companies to sell more American products abroad.
He highlighted how business leaders, including Nvidia CEO Jensen Huang, have called for reducing barriers to selling in markets where demand is high.
Miran added that policies promoting U.S. exports could mean higher income for corporations and individuals alike, as well as stronger shareholder returns.
As for how steep any tariff snapbacks might be, Miran concluded it will ultimately depend on each country’s progress at the negotiating table.
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Image Credit: Business Insider Africa
