India, July 9 -- A leading UN trade official has warned that the United States' decision to delay the end of a tariff suspension by a few weeks risks prolonging global uncertainty and undermining long-term investments and commercial contracts.
While the initial 90-day pause on so-called "reciprocal" tariffs offered some relief compared to planned increases of up to 50 per cent, the U.S. imposed a 10 per cent baseline tariff instead, added on top of existing duties. This means many countries, especially developing economies, faced higher costs exporting goods to the United States.
The tariff suspension, originally set to expire on July 9, has been extended until August 1, further prolonging uncertainty, Pamela Coke-Hamilton, Executive Dire...