President Donald Trump pushed back the implementation of a broad package of import tariffs to 1 August from 9 July, notifying 14 trading partners that levies of 25% to 40% will take effect unless agreements are reached beforehand. The White House said no further extensions are under consideration. Trump also outlined sector-specific duties, announcing a 50% levy on copper imports and warning that tariffs on pharmaceuticals could reach as high as 200% after a grace period of up to 18 months. Additional measures on semiconductors and other products are being prepared, he told reporters. U.S. equity futures dipped after the schedule change was disclosed, but trading steadied on Tuesday. The Dow Jones Industrial Average closed 165 points lower, or 0.37%, while the S&P 500 slipped 0.07% and the Nasdaq Composite edged up 0.03%. European and Asia-Pacific stocks were mixed to firmer as investors wagered the duties may ultimately be scaled back. Strategists said markets view the delay as a negotiating tactic rather than a definitive escalation, limiting volatility for now. Even so, analysts warn that the prospect of tariffs on major supply-chain inputs could reignite inflation concerns and complicate the Federal Reserve’s policy outlook ahead of the release of the latest FOMC minutes.