As of today, the 3-month tariff cooling-off period that kicked off on May 12 is in its final stretch, with just 25 days left until it wraps up on August 12. While U.S. tariff policies have maintained phase-wise stability during this window, they’ve been quietly shaped by “targeted adjustments.”​

Recent tariff shifts are particularly notable: Starting August 1, over 20 nations will face tariff hikes of 20%-50%, while 150 secondary countries will see a uniform 10%-15% increase. Import tariffs on copper are set to jump to 50%, and steel and aluminum tariffs—with exceptions for certain nations—will surge from 25% to 50%.​

On the U.S.-China front, the 24% tariff rate has been suspended for 90 days since May 14, easing trade frictions temporarily. However, the 10% tariff remains in place, fueling heightened reallocation of tariff costs in cross-border e-commerce and high-end manufacturing sectors. This has also amped up supply chain positioning battles across Southeast Asia.​

With the cooling-off period ending August 12, the “finalization” of U.S. tariff policies could drastically reshape global trade dynamics. Tariff negotiations in key relationships—with Europe, China, and beyond—are heading into uncharted waters, as global industrial chains undergo restructuring that brings both risks and opportunities.