US EditionWorld economies reel from Trump's tariffs punch
UNITED STATES, AUG 5 – President Trump raised tariff rates from 10% to as high as 41% on 70 countries to counter unfair trade practices, impacting global markets and US importers, analysts said.
- On July 31, U.S. President Donald Trump signed an executive order raising duties on about 70 economies to between 10% and 41%, effective August 7 at 0401 GMT.
- Earlier this year, reciprocal tariffs were introduced on all countries on April 2 before being paused on April 9, replaced by a 10% baseline tariff.
- While some secured exemptions, Vietnam, Japan, Indonesia, the Philippines, South Korea and the European Union struck deals to prevent steeper tariffs.
- Amid the tariffs, two Federal Reserve officials warned Friday that the U.S. economy faces risks, as global markets reel from the tariff increase.
- Modelling forecasts the U.S. annual GDP will drop by 0.36%, reducing it by $108.2 billion, while China and the EU face $66.9 billion and $26.6 billion losses respectively.
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96 Articles
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Tariffs will hurt U.S. more than many other economies, modelling suggests
The latest revised tariffs from the Trump administration will reduce the United States' annual GDP by 0.36 percent, worse than many other countries and regions, according to modelling released on Sunday.U.S. President Donald Trump signed an executive
President Trump's upcoming tariff rates could impact back-to-school shopping
PORTSMOUTH (WAVY) — Come Thursday, President Trump is expected to impose his latest round of tariffs, with some as high 41% on U.S. imports as those steep rates set to hit more than 60 countries, and they could have an impact on families as they shop for back-to-school items. "We know empirically that these price increases, if they then come, are going to be passed on straight to consumers," said David Bieri, an associate professor in urban affa…
Trump's new tariffs set to take effect this week, but much is uncertain : The NPR Politics Podcast
The latest tariffs are due to take effect this week, but many of the details are still uncertain. We discuss what may be coming, why congressional Republicans aren't pushing back against tariffs some of them oppose, and the effects of Trump's decision to fire the head of the Bureau of Labor Statistics.This episode: political correspondent Ashley Lopez, White House correspondent Danielle Kurtzleben, and chief economics correspondent Scott Horsley…
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