US EditionStocks tumble after Trump unveils sweeping new tariffs
UNITED STATES, AUG 1 – President Trump cited national security and trade deficits to justify tariffs ranging from 10% to 50% on nearly 70 countries, impacting global markets and key export sectors, analysts said.
- Trump issued a presidential executive order raising tariffs, including a 35% duty on Canadian goods, 50% on Brazil, and 25% on India, effective in seven days for 69 trading partners.
- U.S. federal appeals court judges questioned Trump's invocation of emergency powers to impose tariffs of up to 50% on nearly all trading partners.
- Asian shares faced their worst week since April, and European stocks fell to a three-week low due to concerns over the new tariffs.
- Trump stated that Canada had 'failed to cooperate' on narcotics flows, justifying an increase in tariffs on Canadian goods from 25% to 35%.
156 Articles
156 Articles
Last spring, the stock market crashed after Donald Trump's tariff announcement. When the US president announced new tariffs yesterday, however, the crash did not occur. "It's 'the wolf is coming' all the time," says equity analyst Peter Malmqvist.
Bitcoin, ether fall as President Trump modifies tariffs and jobs data disappoints: CNBC Crypto World
On today's episode of CNBC Crypto World, major cryptocurrencies slide after President Trump unveiled his modified “reciprocal” tariffs on dozens of countries. Plus, Coinbase launches newly imagined “everything exchange,” which will include tokenized real-world assets, stocks, derivatives, prediction markets and early-stage token sales. And, Leah Wald, CEO of SOL Strategies, discusses the strengthening ties between Wall Street and blockchain tech…
Trump Tariffs Highlights: "Going To Prioritise Key Trading Partners," Says US On Tariff Rates
Donald Trump Tariff Highlights: US President Donald Trump on Friday unveiled an array of import levies that ranged as high as 41 per cent on Syria and included a hike on Canadian imports from the current 25 per cent to 35 per cent.
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