Analysts said the muted market response was because many investors expected the levies to settle at lower levels after negotiations.

With the tariffs set to kick in now on Aug. 1, the latest move by the White House amounts to essentially a four-week extension of its previous 90-day pause, wrote Tobin Marcus, an analyst at Wolfe Research.

Wall Street is mixed in quiet trading as markets appeared to shrug off a new U.S. tariff deadline for trading partners.