The summer of 2025 turned out to be scorching not only because of the weather but also due to the heated atmosphere in global economics. After the United States announced in April the introduction of new trade restrictions—so-called "collateral tariffs"—global businesses froze in anxious anticipation. In Beijing, a group of analysts urgently transmitted data to a strategic development center: “If the U.S. doesn’t extend the negotiation pause, the consequences for regional exports will be irreversible.” Meanwhile, in Washington, the President stood by a military memorial, giving a televised interview, evasively answering questions about deadlines. “We just want fair trade,” he said. Markets interpreted this as a signal of collapse. Indices fell, oil became cheaper, and the dollar hit a multi-year low. In one of Europe’s capitals, Brussels, a late-night emergency session of economic ministers took place. The EU trade commissioner declared, “If we don’t reach an agreement with the U.S., the European Union will have to protect its interests.” Economic tension became more than a news item—it became the everyday reality for millions, from farmers in Argentina to chipmakers in South Korea. Yet amidst the panic, voices of reason emerged. The head of the IMF reminded in an interview, “History shows us that negotiations, even tough ones, are better than protectionism.” Analysts in Singapore, Toronto, and Tel Aviv cautiously predicted that the U.S. might delay its final decision. Finally, on July 7, two days before “Hour X,” a senior U.S. official stated: “We are considering an extension of the negotiation period.” The world breathed a sigh of relief. While no guarantees were given, markets slowly began to recover, and diplomatic channels resonated again with hope.