CNN 5 Things Global tariffs begin, Trump-Putin meeting, JD Vance’s Epstein dinner & more
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Aug 7, 2025 President Trump's global tariffs are now in action, stirring economic ripples worldwide. Tensions rise as discussions about a meeting with Vladimir Putin unfold amid potential impacts on trade. A grim update follows the shooting incident at Fort Stewart, stirring national concern. Meanwhile, a controversial dinner for Trump officials regarding the Epstein scandal raises eyebrows. Lastly, Japan faces a significant population crisis, highlighting urgent demographic challenges.
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Trump's Global Tariffs Impact
- Trump's global tariffs apply 10% or 15% based on US trade surplus or deficit with countries.
- These tariffs have raised $100 billion without causing major inflation or recession so far.
Tariffs Affect US Consumers
- American importers pay the tariffs, not other countries, effectively a sales tax on US consumers.
- This may hurt consumers in the long run despite short-term government revenue gains.
Trump-Putin Meeting Planned
- Plans are underway for Trump to meet Russian President Putin in coming days.
- This follows talks about ending the war in Ukraine between a US envoy and Putin.