However, the 90-day scaleback in reciprocal tariffs means that Trump’s tariff policies have not been enforced and while its effects “hasn’t happened yet”, signs are starting to show, says Nomura’s head of global macro research, Rob Subbaraman, at the firm’s Asian Investment Forum held in Singapore from June 3 to 5.
With the deadline day of US President Donald Trump’s first 90-day scaleback on his so-called reciprocal tariffs less than a month away, the world now holds its breath and lies in wait for more developments and clarity as uncertainty around the future of tariff policies remains.
The economic data coming out of the US so far has not yet reflected any signs of significant detrimental impacts from tariffs on the US economy. According to the US Bureau of Labor Statistics, the unemployment rate stayed unchanged at 4.2% and 139,000 new jobs were added in the US in May.
