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The 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.
107 Articles
107 Articles
Tariffs may upend global trade
WASHINGTON (NEXSTAR) - Prices on almost everything you buy made outside of the U.S. may go up soon. The White House announced new tariffs that are now in effect. President Donald Trump says these tariffs are necessary to bring more manufacturing back to the U.S. He celebrated an announcement from Apple that they'll invest $600 billion in the U.S. The tariffs went into effect on Thursday at midnight and the Yale Budget Lab estimates it'll cost t…
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.
Economist: Tariffs may contribute to short-term pain at Eastman
KINGSPORT, Tenn. (WJHL) — Hours after Eastman Chemical CEO Mark Costa described the current tariff and trade environment as "chaos" in an Aug. 1 second-quarter earnings call, the share price of Eastman stock had sunk to multi-year lows on a lackluster earnings report. Nearly a week later, the stock price hasn't recovered much from Friday's close of $58.96 (a 19% drop from the previous day) and more tariff announcements have come out of President…
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