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Small investor jitters around trade tensions remain, with the S&P 500 still holding just below last week’s record. Brazil is the latest nation to be hit by threats of significantly higher levies

Today marks the end of the three-month tariff relief extension, but the reality is that there is still time to negotiate before nations "start to pay" on August 1st.

Stocks have recovered from yesterday’s slight wobble, with the consensus being that most countries will at least get to August 1st, and many other major nations are close to interim deals that will keep temporary tariffs on the lower end beyond this date.