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Wednesday 12 November 2025
7 July Week Ahead: Tariffs Update, Jobs, Earnings & More
The second week of July 2025 is here, and it already seems eventful for the financial markets and global economies.
From President Donald Trump’s tariffs deadline to U.S. labour data and key earnings reports, here are this week’s main economic events and what traders and investors can expect:
TL;DR
Trump delayed the tariff hike deadline to 1 August, pending trade deals.
U.S. stock futures dipped on the tariff news.
Jobless claims are expected to rise slightly.
Key earnings: Delta, Levi Strauss, Aeon.
Major global economic data from the EU, China, the US, Japan & more this week.
U.S. Tariff Deadline Shifted as Trade Talks Continue
This week kicked off with key news from the White House. In a significant development in U.S. trade policy, the Trump administration announced that it pushed back its 9 July tariff deadline. This initially marked the end of a 90-day pause on sweeping import duties. While formal notifications to trading partners are still proceeding this week, the administration now says that higher tariffs will take effect on 1 August unless new trade agreements are reached in the interim.
For reference, here’s an overview of the tariffs' history and latest updates:
Background:
On 2 April, President Trump unveiled a new tariff framework: a 10% base rate on most imports, with some countries facing rates up to 50%.
These measures were initially put on hold for 90 days, setting 9 July as the target date for concluding trade negotiations.
Current Developments:
As the deadline nears, the administration has notified around 100 countries, mostly those with limited trade volumes with the U.S., that they will face higher tariffs unless deals are reached.
Tariff notification letters began going out today, 7 July, outlining specific rate changes.
Revised Timeline:
Treasury Secretary Scott Bessent confirmed that while formal notifications are tied to the 9 July deadline, tariffs won’t take effect until 1 August.
This grants countries additional weeks to finalise trade agreements and avoid penalty rates.
Negotiation Flexibility:
Officials have signaled some leeway for nations actively engaging in trade talks.
Countries negotiating "in good faith" may be given extra time, with the possibility of further discussions continuing beyond 1 August.
Ongoing Uncertainty:
It remains unclear which nations will reach agreements, which will face increased tariffs, and whether further extensions will be granted.
While the administration is applying “maximum pressure,” it has not ruled out continued negotiation opportunities.
Markets Respond to Trump’s Tariff Update
In response to the latest updates on tariffs, U.S. stock futures fell on Sunday. The S&P 500 and the Nasdaq 100 lost 0.8% of their values while the Dow Jones Industrial Average slid 0.3%. (Source: Yahoo Finance)
It will be interesting to see how and if other markets react to this week's latest news.
Earnings Reports
Earnings reports are set to emerge from the following corporations this week:
Delta Airlines on Thursday, 10 July
Levi Strauss on Thursday, 10 July
Aeon on Friday, 11 July
While these are only a few names in the corporate field, monitoring the reports can provide traders with valuable insights into the markets.
U.S. Labour Data
The next U.S. jobless claims report is set to be released on Thursday, 10 July. This weekly report provides key data on initial and continuing unemployment insurance claims. Analysts are forecasting 240,000 new initial claims, up slightly from the previous week's total of 233,000. The anticipated increase indicates a modest rise in jobless claims, suggesting a potential softening in the labour market.
Still, these are only projections, and only time will tell what lies ahead.
More Economic Reports to Keep in Mind
Besides the above, traders, analysts, and consumers alike may want to track the following releases:
Monday, 7 July:
Tuesday, 8 July:
Japan Current Account
France Balance of Trade
Wednesday, 9 July:
China CPI and Producer Price Index (PPI)
Japan Money Stock
U.S.FOMC Minutes & Wholesale Inventories
Reserve Bank of New Zealand (RBNZ) Rate Decision
Thursday, 10 July:
Sweden Gross Domestic Product (GDP)
Italy Industrial Production
Brazil Inflation
Friday, 11 July:
Canada Employment
France CPI
Germany CPI
UK Industrial Production and Trade Balance
U.S.Federal Budget Balance
Conclusion
The second week of July 2025 is shaping up to be pivotal for global markets. With Trump’s tariff deadline extended, key earnings reports due, and critical economic data releases ahead, investors face geopolitical uncertainty and macroeconomic signals. How markets respond will largely depend on developments in trade talks and the trajectory of labour and inflation data in the coming days.
*Past performance does not reflect future results.
Week Ahead FAQs:
Why was the 9 July tariff deadline delayed?
To allow more time for trade talks, the new deadline is 1 August.
How did markets react?
On Sunday, U.S. stock futures dipped slightly on tariff delay news.
When is the next U.S. jobless claims report?
Thursday, 10 July. Forecast: 240,000 new claims (up from 233,000).
Which companies report earnings this week?
Delta, Levi Strauss (10 July), Aeon (11 July).
What global data should traders watch?
Key reports from China, Germany, France, Canada, and the U.S.
What could affect Fed rate decisions?
Upcoming inflation data (CPI, PPI, PCE) and jobless claims.
