Tariffs threaten high-value stocks, analysts warn
Wall Street has largely shrugged off US President Donald Trump's threats of higher duties: Investors believe he will ultimately back down from any action that causes an adverse market reaction.
But the tariffs Trump has already implemented are enough to hurt corporate earnings, an HSBC strategist said.
Investors will get more clues as to the levies' longer-term impact this week as several big firms with extensive tariff exposure, like General Motors, release their latest earnings.
Some experts fear disappointing revenue or other economic data 'could pull the rug out from under the latest rally,' Bloomberg wrote.
— J.D. Capelouto
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CNN
2 minutes ago
- CNN
Trump meets with Ursula von der Leyen as US-EU trade deadline nears
President Donald Trump began talks Sunday in Turnberry, Scotland, with European Commission President Ursula von der Leyen, as Friday's deadline looms to reach a trade deal to avoid the 30% tariffs on European imports. 'We'll probably know in about an hour. Shouldn't take that long. It's, you know, it's complicated, but not really complicated when you get right down to it,' Trump said during the news conference. Trump reiterated that the likelihood of striking a deal with the EU is '50-50.' This is a developing story and will be updated.
CBS News
2 minutes ago
- CBS News
Transcript: Sen. Chris Van Hollen on "Face the Nation with Margaret Brennan," July 27, 2025
The following is the transcript of an interview with Sen Chris Van Hollen, Democrat of Maryland, that aired on "Face the Nation with Margaret Brennan" on July 27, 2025. MARGARET BRENNAN: And we're joined now by Maryland Democratic Senator Chris Van Hollen, who is one of those appropriators we were just speaking about with the budget director. You just heard everything he laid out. There were no specifics on when these clawbacks could be coming, but they're on the table. He says they don't want to shut down. He didn't seem to say they want, you know, a continuing resolution. Do you know what's coming? SEN. CHRIS VAN HOLLEN: Not really. The one thing we know, and you asked Russ Vought about this, was he says that the process is too bipartisan right now, meaning that they want to use this process just to ram through the agenda and the overall agenda we saw when they passed the so-called Big, Beautiful Bill, which was beautiful for billionaires, but not really for anybody else, which is to provide tax cuts for very wealthy people at the expense of everybody else. And I do want to say Margaret, I heard him deny that that bill increased the deficit and debt. The nonpartisan Congressional Budget Office just said it increased our debt by 3.5 trillion before added interest. MARGARET BRENNAN: He's using an accounting gimmick in regard to the benchmark. SEN. VAN HOLLEN: As- and Republicans have called out this accounting gimmick, so when-- MARGARET BRENNAN: --And it was accepted-- SEN. VAN HOLLEN: Well, they sort of unilaterally imposed it, it was not accepted by Democrats, and it was a departure from previous efforts. But you know, then they come back and they say that they want to cut these important programs, NIH and other things to reduce the deficit, when, in fact, what they're doing it for is to help try finance those tax cuts for very wealthy people. MARGARET BRENNAN: So it's just heading us towards pretty unchartered territory and very unclear whether we will be able to avoid a government shutdown. Democrats are going to be blamed if there's a shutdown, don't you think? I mean, how do you sidestep this? SEN. VAN HOLLEN : We certainly don't want a government shutdown. And I think everybody has heard Russ Vought say that they want a less bipartisan process. What that tells me is they're willing just to use their powers to try to shut down the government if they don't get their way. And what's ironic about this Margaret is you have Russ Vought calling for these deep cuts to education NIH, when he has asked for an increase for his OMB budget. He asked for a 13% increase for his OMB budget. He's asked for more people to join the OMB staff, while he's talking about RIFing people at other departments, like the Department of yeah- getting rid of firing people at the Department of Veterans Affairs and other important priorities. So it's hard to take the OMB Director seriously when he says that they didn't increase the debt and when he says he wants to cut things except for his own budget and staff. MARGARET BRENNAN: But if they do head towards a government shutdown, why would there be any benefit unless it is to prioritize funding certain agencies and de-prioritizing other agencies. Well, that goes back to the executive, doesn't it, that authority? SEN. VAN HOLLEN: Well, that ultimately, though you need, for example, four Republican senators to stand behind what he's calling for. And what they've called for is sort of just a double cross on the process, right? That's what the so-called rescissions, is just a Washington name for double cross. They support one thing, one day, President even signs off, and then they come back and say they changed their mind. And what we're asking is for four Republican senators just to publicly declare that when they say they're going to fund the Veterans Affairs Department that they actually mean it. MARGARET BRENNAN: That they won't later agree to claw that money back. SEN. VAN HOLLEN: Exactly MARGARET BRENNAN: Right. So one of the things the Trump administration is clear and did get clawbacks of is foreign assistance. However, there's an exception. In June, the administration announced it would give $30 million to this Israeli-backed organization called the Gaza Humanitarian Foundation, the GHF, I know you're familiar with it. It delivers aid through armed military contractors who stand behind the Israeli military in four designated zones that Gazans then have to get themselves to in order to receive the aid. The State Department says they're sending this money. Have they? SEN. VAN HOLLEN: To my knowledge, they have, although we've asked for the details, we haven't gotten them. In fact, just today, I'm sending a letter to Secretary Rubio, signed with 20 of my colleagues, calling for more information, but also calling for defunding this. American taxpayers should not be spending one penny to fund this private organization backed by mercenaries and by the IDF that has become a death trap. Over 1000 people have died from being shot and killed as starving people crowd to try to get food at just these four sites. MARGARET BRENNAN: The- just to be clear here, the State Department says they're going to send $30 million. Reuters had reported that there were documents they obtained showing 7 million had already been sent to these, what you call, armed mercenaries. But the Trump administration says this is the best way, this is the only way, to keep money- to keep food out of the hands of Hamas, which financially benefits off reselling it to desperate starving people. Is there another way to feed desperate starving people? SEN. VAN HOLLEN: Yes. And this is a- a big lie, the claim that when the UN organizations were delivering food to Palestinians civilians, that it was being systematically diverted to Hamas. I want to say loudly and clearly, this is a big lie. Trump is-- MARGARET BRENNAN: The systematic part of that. SEN. VAN HOLLEN: The systematic, but that is their claim. They claim that essentially, large amounts of aid are being diverted to Hamas. What we know now, from testimony of American officials, Cindy McCain, and just this week, high level Israeli military officials, is that there's no evidence to support that. AID, USAID, just released a report saying there's no evidence to support that. So what the Netanyahu government did was scrap a delivery system that was working at delivering food and assistance in favor of this other effort. That was a pretext, this claim that Hamas was systematically diverting food. The real goal of this other effort is to use food as a weapon of war and population control. MARGARET BRENNAN: That's a violation of international law. SEN. VAN HOLLEN: Yes, it is. MARGARET BRENNAN: That's a human rights abuse. Senator Lindsey Graham was on "Meet the Press" this morning, and I want to ask for your reaction to something he said, because he was very strong in his words. He said, because the ceasefire talks fell apart, Israel is reassessing. He said to expect a full military effort by Israel to take Gaza down, quote, "like we did in Tokyo and Berlin. They're going to do in Gaza what we did in Tokyo and Berlin, take the place by force, start over again, present a better future." The United States is a huge supporter of the State of Israel. Is there anything that could prevent what he says is about to happen? SEN. VAN HOLLEN: Well, the United States should make very clear that it's unacceptable to use U.S. weapons to target or indiscriminately fire on civilians and civilian infrastructure. So-- MARGARET BRENNAN: Because this sounds like an occupation. SEN. VAN HOLLEN: Well, we also know, just this week, members of the Netanyahu coalition, in fact, government ministers, called for essentially erasing Gaza, and they said, it will become a Jewish state, statelet. And part of- so- this was one of the-- MARGARET BRENNAN: Netanyahu did say he didn't agree with his statement. SEN. VAN HOLLEN: Well, here's the problem though, Margaret, we continually see that Netanyahu, at the end of the day, does cater to his most far right wing of his- of his government, people like Ben Gvir, people like Smotrich. That is what has allowed him to stay in power, and so at the end of the day, he takes the most extreme positions. MARGARET BRENNAN: Senator Van Hollen, thank you for your time today. We'll be right back with a lot more "Face the Nation." Stay with us.
Forbes
2 minutes ago
- Forbes
Tapping The Ancient Wisdom Of Hospitality To Foster Inclusivity
Team members feeling safe and connected and actively listening to and learning from one another. In the past some business leaders solved the problem of employees being constantly connected to their laptops and smartphones by tapping ancient Jewish wisdom and providing digital sabbaths so employees could disconnect from their digital devices and find time to rest, reflect, and reconnect. Today business leaders can solve the problem of companies abandoning or weakening their commitment to DEI programs, even though the issues those programs sought to address persist, by adapting the ancient virtue of hospitality to make others feel welcome, connected, safe, valued, respected, and heard. Under pressure and threats from the Trump administration and certain conservative lawmakers and activists some companies have abandoned or weakened their DEI commitments as too controversial and risky. But the importance of hospitality as a virtue is recognized in Judaism, Islam, Christianity, and Hinduism. Given that widespread acceptance it seems safe to suggest that a company's public commitment to creating a culture of hospitality would be less risky than a public commitment to DEI efforts--though some companies may want to accept the risk of staying openly true to their convictions. The Benefits of An Inclusive Workplace Employees in an inclusive workplace feel that they belong, that their perspectives matter, that they are valued and respected, and that they are safe to be their authentic selves. That is good for the employees and also for their organizations. A 2025 report by the World Economic Forum found that companies that companies committed to DEI more generally experienced higher levels of performance, innovation, and employee satisfaction. And a survey by Boston Consulting Group and the Future Forum revealed that employees who feel they can be their authentic selves at work are more happy and motivated and more than two times less likely to quit. The practice of hospitality could yield similar positive results for employees and organizations and help promote not only inclusivity, but also diversity and equity. A hospitable workplace culture is more likely to attract a wider range of top talent and also to be a place where employees feel they are treated fairly. But creating a hospitable environment requires moving beyond the common understanding of that virtue. The Deeper Meaning of Hospitality In Reaching Out, Catholic spiritual writer, Henri Nouwen, suggests that we think of hospitality not narrowly as welcoming strangers into our homes but rather as the fundamental welcoming attitude we have toward other human beings. He points out that we often see strangers as a potential threat, but that we should see them as potential allies who have gifts they may share with us if we welcome them into a safe and open space in which they can be themselves and then show genuine interest in them. The goal of creating that open space is to invite others to enter it and form a new relationship with us. But people will enter that space and share their gifts fully with us only if they feel safe. Nouwen observes that people will not reveal their most precious experiences and insights with those who evoke fear in them. He also emphasizes that those offering hospitality must see and affirm that the life experiences and ideas of others are worthy of our full attention and respect. Receptivity and Openness Nouwen explains that hospitality requires both receptivity or openness and confrontation or presence. Receptivity involves welcoming others as who they are, not as who you would like them to be. A report by the Williams Institute at the UCLA School of Law found that half of LGBT employees are not out to their direct supervisors and that one quarter of them are not out to even a single co-worker. Those employees reported not feeling safe speaking about their lives outside of work or displaying photos of their partners or families. They indicated not feeling welcome in their workplaces as who they are. Turning to what Nouwen labels 'confrontation,' hospitality requires that we welcome others as who they are while staying true to who we are. I prefer 'presence' to 'confrontation' since being present to others as who you are need not lead to confrontation. Leaders offering hospitality should be clear about their own ideas, opinions, and convictions. A hospitable workplace promotes real conversation, after all, and real conversation requires that all parties remain who they really are and say what they really think. That being the case, leaders offering hospitality should not hide what they think and believe. They should also be clear about any boundaries that employees should follow. If I have been welcomed to a home in which it is common practice to remove one's shoes before entering, for example, I should respect that boundary and remove my shoes even if I do not do so in my home. If it is part of the culture of a company I have have been welcomed to join to offer praise publicly but criticism privately then I should do that even if I would sometimes like to do otherwise. I recall a story about a senior finance executive who welcomed a new employee and told him that he had a bright future at the firm. He then added that if the new employee ever recommended a client transaction he could not defend as being in the best interest of the client, he would be fired immediately. That is an example of welcoming a newcomer and seeing and believing in that newcomer's potential while also setting a clear boundary with consequences. The Importance of Speaking Less and Listening More Nouwen stresses that listening is one of the most important forms of hospitality and that to practice it well we need to develop our listening skills. He points out that hosts should create open spaces in which they can share perspectives with guests, but that some hosts prevent that from happening by speaking all the time and filling up the schedule so that none of their guests has much of a chance to speak or to interact freely with one another. Leaders who want to practice hospitality in preparing for meetings should think less about what they will say at the meeting and more about what they will ask in order to find out what their team members think and feel. And they should open by inviting the ideas of team members and only then share their own ideas. Leaders who hire talented, experienced, knowledgeable, and motivated people but then fail to give them the opportunity to share their experiences and perspectives waste their organization's most precious resources. They also miss out on learning opportunities that could leave them better-informed and wiser and help them make better decisions. To illustrate the inability of a person who cannot learn because he thinks he already has all the answers Nouwen shares the story of a Zen master who received a university professor who wanted to learn about Zen. The Zen master served tea and poured until the professor's cup was full but then kept pouring. When the perplexed professor exclaimed that the cup was full and could not hold any more water the master explained that the professor's mind, like the cup, was already so full of ideas and assumptions that it would not be able to hold more unless it was first emptied of some of those preconceptions. Leaders must not be so full of their own ideas that there is no room in their minds for the fresh ideas of their team members. The Need for More Hospitable Workplaces Persists The goal of a hospitable workplace is creating a space in which everyone feels safe and welcome as who they are and as having valuable gifts to share. But to create that space hospitable leaders need to recognize that some employees are likely to feel less welcome, valued, respected, connected, and safe than others. Full-time remote workers may well feel less connected to co-workers than those who work the office. Female employees may feel less valued and heard if they are interrupted more often, and a number of studies indicate that they are. Indeed a 2017 study indicates that male Supreme Court justices interrupted their female colleagues three times more often than they interrupted one another. Black employees who feel the need to code-switch, or alter their speech, dress or behavior, in order to fit in with the dominant culture, are less likely to feel welcome as who they are. And a 2023 survey conducted for Indeed by The Harris Poll indicated that black employees are almost three times more likely than their white counterparts to code-switch. Conservative employees may feel less connected, respected, and heard on teams that are predominantly liberal or progressive just as liberal or progressive employees may feel less connected, respected, and heard on predominantly conservative teams. And Muslim employees may feel less welcome and safe on teams in which Christians are a clear and vocal majority. The list could clearly go on but each of those illustrative instances of workplace inhospitality could be remedied by the practice of hospitality as described above. Best Practices for Offering Hospitality in the Workplace First, welcome others as who they are, recognize and affirm their gifts, and make it unambiguously clear by your words and actions that you really want to hear what they think. Second, think of the ratio of speaking to listening that you are comfortable with in your interactions with junior members of your team and then speak less than that so that they can speak more. Third, be your authentic self and communicate your experiences, insights, opinions and values to others clearly. But clarify that your perspective is not the only one that matters and you are open to modifying or changing it based on information and insights from others. Fourth, clarify that having a welcoming attitude toward all does not mean accepting all behaviors or attitudes. Be clear about the boundaries that must be observed for your team to perform at its best and insist that those boundaries are observed. Finally, move beyond the mere acceptance of experiences and perspectives that are different from your own to the positive appreciation of those different experiences and perspectives as leading to richer discussions, better decisions, stronger teams, and better business results as well. Some companies reluctantly eliminated their DEI programs and Chief Diversity Officer positions while remaining quietly committed to having a diverse workforce in which everyone feels that they belong and are treated fairly because that is good in itself and also good for business. Those companies are welcome to appoint a Chief Hospitality Officer to achieve their worthy goals.
