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everything secure. Wednesday is the deadline for trade deals and tariffs, but maybe not.

For Marketplace, I'm Sabri Beneshire in for David Brancaccio. Nations the world over have until

Wednesday to agree to trade deals with the U.S.

or face the return of astronomically high tariffs announced in April and then paused.

But the White House has signaled some wiggle room saying tariffs might not actually come back

until August 1st. Julia Coronado is founder and president of macro policy perspectives

and a professor at the University of Texas, Austin, and joins us to talk more about it. Hi, Julia.

Good morning. Where do you think we're going to land, you know, in terms of the deals we get and the actual tariff rates we get?

Well, let's remember that we have been living with a universal 10% tariff and higher tariffs on China already.

So that seems to be the floor.

It implies a tariff on U.S. imports on average of close to 15%.

And that's not nothing.

We are collecting tariff revenue worth roughly $300 billion a year at an annual rate already.

So if we go higher from here, that means that tax on U.S. firms and consumers will go higher.

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