US EditionThe Latest: Wall Street Dips as World Stock Markets Take Trump’s Tariffs in Stride
UNITED STATES, AUG 7 – The new tariffs establish a 15% baseline rate on imports from key partners including the EU, Japan, and South Korea, aiming to reduce the U.S. trade deficit amid global economic concerns.
- On August 7, 2025, the United States implemented increased tariffs on imports from more than 60 countries, including major trading partners such as the European Union, Japan, and South Korea.
- These tariffs follow earlier notifications in July and resulted from trade disputes, including India's purchases of Russian oil, prompting tariff increases to 50%.
- The tariffs set baseline rates of 15% for many nations, with some countries like Brazil facing 50%, and China scheduled for a 55% tariff if no deal is reached.
- Toyota projected a 37% profit drop tied to tariffs, while analysts warned tariffs lower real wages, slow growth, and raise prices on goods like shoes, apparel, and food.
- Businesses and consumers face higher costs as tariffs disrupt trade, but the White House expects increased investment and accelerated economic growth despite ongoing uncertainties.
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81 Articles
Trump claims other countries pay his tariffs. US businesses and consumers will likely bear most of the costs. - The Boston Globe
Tariffs are collected when foreign goods arrive at the border and amount to a back-door tax increase that one analysis estimates will cost the average US household $2,400 this year.
Finance journalist says tariff turmoil is as 'complicated' as 'a 5-dimensional Rubik's Cube'
Many Americans are concerned about the economic impact of President Trump's tariffs. The president unleashed new reciprocal tariffs on over 90 countries today. Yale Law School Professor Natasha Sarin, Navy Federal Credit Union Chief Economist Heather Long and Financial Times Columnist Gillian Tett join Erielle Reshef to break it all down.
Stores, shoppers brace for price increases as tariffs take effect
Have you been spending more on your groceries? President Trump’s sweeping new tariffs took effect on Thursday. This, after months of delays and extensions. This includes tariffs ranging from 15% to 50% on many food items imported from other countries, such as produce, fish and meat, and even coffee. We spoke with Purushottam, the supervisor at the Apple Tree grocery...
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