The Unintended Consequences of Trump's Tariff Strategy
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With US President Donald Trump's self-imposed Aug. 1 deadline having come and gone, trading partners across the globe are digesting what his new threatened tariffs might mean for them. Countries like the UK appear moderately pleased with their 10% rate while nations such as Switzerland are aghast at levies as high as 39%—so much that Swiss President Karin Keller-Sutter traveled to Washington to negotiate directly before they're initiated fully, which Trump promises will happen on Aug. 7.
But it's early days yet in Trump's trade war, and everything from the unexpected movement of the dollar to negative jobs data and $1 trillion in trade exemptions continues to cloud the picture. On this episode of Trumponomics, we try to understand how Trump's tariffs (which, to add more complexity, an appeals court could soon rule illegal) are currently affecting US businesses, China and the rest of the world. Host Stephanie Flanders is joined Bloomberg Economics Chief US Economist Anna Wong and Bloomberg News senior correspondent Shawn Donnan to discuss it all.
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"Scrutiny of corruption and judicial independence also is significantly scaled back in the draft report for Israel," the newspaper said, adding that the Israel draft is 25 pages compared with more than 100 pages last year. The draft for Israel makes no mention of corruption or threats to the independence of its judiciary. The 2023 report compiled by the Biden administration addresses the corruption trial of Prime Minister Benjamin Netanyahu and judicial overhaul efforts, which critics say threaten the independence of the judiciary. Previous reports also mentioned Israeli surveillance of Palestinians and restrictions of their movement but the issue is not addressed in the draft, the Post said. 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