The 90-day deadline was due on July 9, with dozens of economies, including the EU, India and Japan, facing tariff hikes without a deal. But days before it arrived, Trump issued a delay to August 1. It was his second extension since unveiling the tariffs in April – reigniting the “TACO Theory” that has gained traction among some Wall Street traders.

Vietnam rushed to meet the July 9 trade deadline set by U.S. President Donald Trump, hoping to escape a round of harsh reciprocal tariffs. But that early move has now left officials in Hanoi and major manufacturers facing more confusion than clarity.