Another late-night Trump trade twist hours before the world hit go

Another day, another deadline and another trade curveball from U.S. President Donald Trump just before the buzzer.

The tariff deadline was set for August 1. Markets were watching. Countries were calculating. And then, right before midnight (well, UK time), came another announcement: 40% tariffs on transshipped goods, new rates for dozens of nations, and yet another reshuffling of Trump’s trade playbook. All set to begin next week.

If this feels familiar, it’s because it is.

We’ve seen this before. In April, Trump stunned global markets with a blanket 10% tariff hike, followed by a pause, and then a partial reinstatement. The July 9 restart was delayed at the last minute and pushed to August 1. Each time, businesses scrambled, leaders called Washington, trade lawyers worked overtime. But the element of surprise remained.

This isn’t just erratic policymaking. It’s a signature Trump move.

His leadership style mixes showmanship, brinkmanship, and a firm belief in the power of unpredictability. Announcements often come via social media with deadlines shifting, pressure building And when the world thinks the playbook is set, Trump throws in one more twist.

Stephen Olson, Senior Visiting Fellow at ISEAS – Yusof Ishak Institute and former U.S. trade negotiator, told CNBC this week that Trump has “fundamentally rewritten the rules of global trade.”

Olson further added that with the U.S. stepping away from the very free trade system it once built and led, it’s unclear whether that system can still hold together.

“Don’t assume this is the end of the story. Trump regards this as an ongoing reality show. More ‘deals’ or further tariff increases are almost certain to follow. While we haven’t returned entirely to a ‘law of the jungle’ system, we have taken several huge strides back in that direction.”

It’s the Art of the Deal, reimagined for geopolitics. And while the tactics may appear chaotic, they’ve produced results — at least by Trump’s standards.

The U.S.-Mexico-Canada Agreement (USMCA) is a prime example. Trump repeatedly threatened to scrap the North American Free Trade Agreement (NAFTA) unless Canada and Mexico agreed to stricter terms. After months of tense, down-to-the-wire talks and even a few midnight calls, the deal was signed. It came with tougher rules on automotive content, labor, and digital trade.

Just days before implementing sweeping “Liberation Day” tariffs, Trump announced a headline-grabbing agreement with the U.K., calling it a “very big and exciting day.”

The message was clear: act fast or face tariffs.

Trump’s late-night decisions

This week’s moves feels like it’s cut from the same cloth. Countries like Thailand and Malaysia saw their rates adjusted at the last moment, while others, such as Canada, were hit harder. Switzerland also saw a steep 39% tariff slapped despite no major bilateral tension.

The timing of the 40% penalty on transshipped goods is notable, given that the U.S. and China are currently negotiating a trade deal.

But…