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.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.