Odaily News Julius Baer economist David Cole pointed out in a report that Trump has postponed the deadline for imposing higher tariffs from July 9 to August 1, but the threat of tariff increases has not been lifted. He said that this uncertainty is affecting US investment decisions and exacerbating market concerns about rising inflation. The threat of tariffs has increased the risk of the United States falling into "stagflation". At the same time, this also puts pressure on Europe to further stimulate regional demand to offset the impact of the deteriorating international trade environment. (Jinshi)