Live updates: Trump's new tariffs give some countries a break, while shares and US dollar sink
The order was issued shortly after 7 p.m. on Thursday. It came after a flurry of tariff-related activity in the last several days, as the White House announced agreements with various nations and blocs ahead of the president's self-imposed Friday deadline. The tariffs are being implemented at a later date in order for the rates schedule to be harmonized, according to a senior administration official who spoke to reporters on a call on the condition of anonymity.
Update:
Date: 2025-08-01 11:53:30
Title:
Which countries have a trade agreement?
Content: In a flurry of last-minute deal-making, Trump has been announcing agreements as late as Thursday, but they are largely short on details.
On Thursday, the U.S. and Pakistan reached a trade agreement expected to allow Washington to help develop Pakistan's largely untapped oil reserves and lower tariffs for the South Asian country.
And on Wednesday, Trump announced a deal with South Korea that would impose 15% tariffs on goods from that country. That is below the 25% duties that Trump threatened in April.
Agreements have also been reached with the European Union, Pakistan, Indonesia, Vietnam, the Philippines, and the United Kingdom. The agreement with the Philippines barely reduced the tariff it will pay, from 20% to 19%.
Update:
Date: 2025-08-01 11:52:35
Title:
Will the deadline hold this time?
Content: Trump's original April 2 'Liberation Day' announcement threatened to impose import taxes of up to 50% on nearly 60 countries and economies, including the 27-nation European Union. Those duties, originally scheduled for April 9, were then postponed twice, first to July 9 and then Aug. 1.
On Wednesday, Trump said on his social media platform Truth Social, 'THE AUGUST FIRST DEADLINE IS THE AUGUST FIRST DEADLINE — IT STANDS STRONG, AND WILL NOT BE EXTENDED.'
As of Thursday afternoon, White House representatives — and Trump himself — had insisted that no more delays were possible.
But when Trump signed the order Thursday night imposing new tariffs on 68 countries and the European Union, the start date of the punishing import taxes was pushed back seven days so that the tariff schedule could be updated. The change — while potentially welcome news to countries that had not yet reached a deal with the U.S. — injected a new dose of uncertainty for consumers and businesses still wondering what's going to happen and when.
Update:
Date: 2025-08-01 11:51:38
Title:
Dozens of countries with no deals face new tariffs as trade deadline looms
Content: Numerous countries around the world are facing the prospect of new tariffs on their exports to the United States on Aug. 7, a potential blow to the global economy, because they haven't yet reached a trade deal with the Trump administration.
Trump intends the duties to bring back manufacturing to the United States, while also forcing other countries to reduce their trade barriers to U.S. exports. Trump argues that foreign exporters will pay the cost of the tariffs, but so far economists have found that most are being paid by U.S. companies. And measures of U.S. inflation have started to tick higher as prices of imported goods, such as furniture, appliances, and toys rise.
Countries without an agreement face duties ranging between 10% and 40%, according to Trump's executive order signed on Thursday. That includes large economies such as Taiwan and India, as well as many smaller countries like South Africa, Sri Lanka, Bangladesh, and even tiny Lesotho.
▶ Read more about the countries facing new tariffs and a new deadline
Update:
Date: 2025-08-01 11:49:41
Title:
Ask AP a question
Content:
Update:
Date: 2025-08-01 11:49:17
Title:
Trump injects new dose of uncertainty in tariffs as he pushes start date back to Aug. 7
Content: Trump has been promising the world economy would change on Friday with his new tariffs in place.
But when Trump signed the order Thursday night imposing new tariffs, the start date of the punishing import taxes was pushed back seven days so that the tariff schedule could be updated. The change injected a new dose of uncertainty for consumers and businesses still wondering what's going to happen and when.
Trump has promised that his tax hikes on the nearly $3 trillion in goods imported to the U.S. will usher in newfound wealth, launch a cavalcade of new factory jobs, reduce the budget deficits and, simply, get other countries to treat America with more respect.
The vast tariffs risk jeopardizing America's global standing as allies feel forced into unfriendly deals. As taxes on the raw materials used by U.S. factories and basic goods, the tariffs also threaten to create new inflationary pressures and hamper economic growth — concerns the Trump White House has dismissed.
▶ Read more about the delay in the tariff start date
Update:
Date: 2025-08-01 11:46:42
Title:
Trump's new tariffs give some countries a break, while shares and US dollar sink
Content: Trump's new tariff rates of up to 41% on U.S. imports from dozens of countries drew expressions of relief Friday from some countries that negotiated a deal or managed to whittle them down from rates announced in April. Others expressed disappointment or frustration over running out of time after hitting Trump's Aug. 1 deadline for striking deals with America's trading partners.
The new rates are due to take effect on Aug. 7, but uncertainty over what Trump might do next remains. The way ahead for China, which runs the largest trade surplus with the U.S., is unclear after talks earlier this week in Stockholm produced no deal. Trump has yet to say if he'll extend an Aug. 12 pause on painfully high import duties on Chinese products.
The reaction from financial markets was muted. Benchmarks fell in Asia, with South Korea's Kospi dropping nearly 4% after the tariff rate for the U.S. ally was set at 15%. The U.S. dollar weakened against the Japanese yen, trading at more than 150 yen per dollar.
▶ Read more about the impact of Trump's new tariffs
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 minutes ago
- Yahoo
Inside the Courtland Sutton deal
The Broncos have been securing their key players to long-term contracts. One such player to get a new deal was receiver Courtland Sutton. Due to make $14 million in 2025, Sutton recently signed a four-year, $92 million extension. That's a new-money average of $23 million per year. Here's the full breakdown of the contract, per a source with knowledge of the terms: 1. Signing bonus: $18.5 million. 2. 2025 base salary: $4 million, fully guaranteed. 3. 2026 option bonus: $12 million, fully guaranteed. 4. 2026 base salary: $4.735 million, fully guaranteed. 5. 2026 per-game roster bonus: $765,000 total, fully guaranteed but must be earned. 6. 2027 base salary: $19.235 million, $1 million of which is guaranteed for injury and becomes fully guaranteed on the fifth day of the 2027 league year. 8. 2027 per-game roster bonus: $765,000 total. 9. 2028 base salary: $20.735 million. 10. 2028 per-game roster bonus: $765,000 total. 11. 2029 base salary: $23.375 million. 12. 2029 per-game roster bonus: $765,000 total. The deal has $40 million fully guaranteed at signing. The other $1 million in injury guarantees vests in 2027. It's clearly a second-tier deal. Good but not among the highest-paid of all receivers. With Bengals receiver Ja'Marr Chase now north of $40 million, Sutton is at $23 million in new-money APY. From signing, the five-year deal has an annual average of $21.2 million.
Yahoo
12 minutes ago
- Yahoo
Pam Bondi Escalates Attacks On Obama Officials By Calling For Grand Jury Investigation: Reports
The Justice Department is reportedly probing allegations that Obama officials fabricated evidence of Russian interference during the 2016 election, doubling down on attempts to distract from its controversial handling of the Jeffrey Epstein files. Per reports from CNN and Fox News, Attorney General Pam Bondi has called on prosecutors to initiate a grand jury investigation into these claims – a move that could lead to subpoenas of former officials and even potential indictments. A DOJ spokesperson did not immediately respond to a request for comment. Bondi's decision effectively endorses Trump's latest baseless conspiracy theory — which has included accusing Obama of treason — and comes as the administration has struggled to move on from the Epstein debacle. In recent weeks, Trump argued that Obama and his team manipulated intelligence to delegitimize his presidency, pointing to an announcement from Director of National Intelligence Tulsi Gabbard as proof. Gabbard, in July, released files that she says indicate that Obama officials produced a 'contrived narrative that Russia interfered in the 2016 election to help President Trump win.' She also referred the issue to the DOJ for a criminal investigation ― and suggested that these actions were effectively a 'coup.' Gabbard's interpretation distorts past conclusions drawn by members of the intelligence community, who determined that Russia fielded an influence campaign to damage former Democratic nominee Hillary Clinton and boost Trump. That finding was also backed by a bipartisan group of lawmakers in the Senate Intelligence Committee – including now-Secretary of State Marco Rubio. While Gabbard's files provide new information, they don't negate prior findings that Russia sought to influence U.S. voters during the 2016 election, NPR reports. Obama spokesperson Patrick Rodenbush has dismissed Trump's accusations as a 'ridiculous and a weak attempt at distraction' as well. 'Nothing in the document issued last week undercuts the widely accepted conclusion that Russia worked to influence the 2016 presidential election but did not successfully manipulate any votes,' Rodenbush said in July. Related... Sen. Graham Calls For 'Investigation' Into Obama — Playing Into Trump's Epstein Distraction Obama Team Issues Rare Rebuttal To Continued Trump Nonsense Trump Renews Lie That Russia Did Not Help Him In 2016, This Time With Gabbard's Help
Yahoo
12 minutes ago
- Yahoo
MTG urges Donald Trump to commute George Santos' prison sentence
Georgia Congresswoman Marjorie Taylor Greene is calling on the Trump administration to commute the sentence of former Congressman George Santos, who was sentenced to seven years in prison earlier this year after pleading guilty to wire fraud and identity theft. 'George Santos has taken responsibility,' Greene wrote on X, sharing a letter she sent to the Justice Department's Office of the Pardon Attorney. 'He's shown remorse. It's time to correct this injustice.' 'I wholeheartedly believe in justice and the rule of the law, and I understand the gravity of such actions,' the letter reads. 'However, I believe a seven-year sentence for such campaign-related matters for an individual with no prior criminal record extends far beyond what is warranted.' Greene claimed Santos, who has sold Cameo videos speaking to fans and hosted a podcast playing on his reputation called Pants on Fire, was 'sincerely remorseful and has accepted full responsibility for his actions.' In April, Santos was sentenced to 87 months in prison for wire fraud and identity theft after pleading guilty last year and agreeing to nearly $374,000 in restitution payments. The following month, the former New York representative, who prosecutors accused of pocketing thousands of dollars in donor funds, appealed to the president for a full pardon. 'Previously, I was not entertaining a pardon because I didn't know what my judgment would be. Now, I am in the process of filling an application to a pardon for the president. I'll take a commutation, a clemency, whatever the president is willing to give me,' Santos said in an interview with Piers Morgan. 'I do believe this is an unfair judgment handed down to me,' he added. 'There was a lot of politicization over the process.' Santos, 37, is now in custody at a federal prison in Fairton, New Jersey. He was expelled from Congress in December 2023, following the release of a damning ethics report. He shared a goodbye post on X before entering prison thanking his allies and critics alike. 'Well, darlings…The curtain falls, the spotlight dims, and the rhinestones are packed,' he wrote. 'From the halls of Congress to the chaos of cable news what a ride it's been! Was it messy? Always. Glamorous? Occasionally. Honest? I tried… most days.' Santos was charged with 23 felony counts for three alleged schemes to use donor money and government assistance funds to enrich himself while running for Congress. He initially pleaded not guilty to the charges. The Republican, who was elected in 2022, also grabbed headlines for exaggerating details about his education and work experience, as well as his mother's whereabouts during 9/11 and his Jewish heritage. Greene has sought presidential intervention for controversial figures before. In May, she asked the president to pardon Derek Chauvin, the then-Minneapolis police officer who murdered George Floyd in a widely seen 2020 incident that set off national protests.