Commentary

What comes next after the U.S. tariff negotiation extension?

Balanced positioning may benefit investors amid increased trade uncertainty.

By: Anu Gaggar Brad Pineault

Updated: 7/9/2025

Key Takeaways

The U.S. tariff pause originally set to expire on July 9, 2025, has been extended until August 1, 2025.
This delay gives countries additional time to finalize bilateral trade agreements with the United States.
For most long-term investors, we suggest maintaining a balanced portfolio that includes equity exposure to benefit from continued economic resilience and earnings growth, as well as fixed income positioning that may help prepare for economic uncertainty.

Get the full white paper

What comes next after the U.S. tariff negotiation extension?

Next steps to consider

AART Team Insights

Access economic, fundamental, and quantitative analysis from our Asset Allocation Research Team.

Learn more

Fidelity Portfolio Quick Check

Analyze, compare, and optimize your investment strategy in minutes with our free on-demand digital portfolio analysis tool.

Learn more

Investments & portfolio construction

Manage client portfolios with greater efficiency and impact with our broad universe of portfolio construction solutions and investment products.

Learn more

Related insights

View all

Venezuela's turning point: Market implications

Fidelity's Denise Chisholm shares her perspective on recent events.

Venezuela and oil prices

Energy stocks have rallied in the wake of recent developments. What’s ahead?

Analyzing what may come next with tariffs

Markets have gained clarity, although specific concerns persist.

For important information, see the full linked content.

1213183.1.0

FBF3426CCF9942B5A3F5236E4EF8CD48

Past performance is no guarantee of future results.

Unless otherwise expressly disclosed to you in writing, the information provided in this material is for educational purposes only. Any viewpoints expressed by Fidelity are not intended to be used as a primary basis for your investment decisions and are based on facts and circumstances at the point in time they are made and are not particular to you. Accordingly, nothing in this material constitutes impartial investment advice or advice in a fiduciary capacity, as defined or under the Employee Retirement Income Security Act of 1974 or the Internal Revenue Code of 1986, both as amended. Fidelity and its representatives may have a conflict of interest in the products or services mentioned in this material because they have a financial interest in the products or services and may receive compensation, directly or indirectly, in connection with the management, distribution, and/or servicing of these products or services, including Fidelity funds, certain third-party funds and products, and certain investment services. Before making any investment decisions, you should take into account all of the particular facts and circumstances of your or your client’s individual situation and reach out to an investment professional, if applicable.

The use of the term "advisor(s)" throughout this site shall refer to both investment advisors and broker-dealers as a collective term.