Trump trade war: tariff deadlines and key upcoming events

The twists and turns in U.S. President Donald Trump's tariff policies have not only rattled global financial markets but have also taken investors on a roller-coaster ride. 

Companies are counting the cost of the trade war that is now being estimated at more than $34 billion in lost sales and higher expenses, a Reuters analysis showed.

Adding to the uncertainty are tariff-related legal challenges and Trump's assertion that he would hammer out bilateral deals with trade partners, even though agreements remain elusive, save a pact with Britain this month.

Here's a timeline for key upcoming events and dates that could have a bearing on the U.S. tariff policy:

June 4: On May 30, Trump boosted tariffs on steel and aluminum imports to 50% from 25%; those tariffs are set to become effective on June 4.

June 5 and 9, 2025:

On May 30, the U.S. federal appeals court reinstated most of Trump's sweeping tariffs, a day after a lower court blocked the ruling. The appeals court ordered the plaintiffs in the case to respond by June 5, while the administration must respond by June 9.

June 15-17:

Trump will attend the annual summit of G7 nations in Canada. The summit will be hosted at the Rocky Mountain resort town of Kananaskis, Alberta, with tariffs expected to be a major topic of discussion.

July 8:

"Liberation Day" tariffs to take effect following the 90-day suspension period, potentially affecting imports from multiple countries.

July 9:

Deadline for United States and the European Union to negotiate a deal to avert 50% tariff duty on all EU imports.

July 14:

The EU's 90-day pause on its own retaliatory tariffs to end.