Bloomberg Daybreak: US Edition Trump Tariffs Send Stocks Lower; Amazon Falls & Apple Gains on Earning
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Aug 1, 2025 Bill Ferry, a Senior Editor at Bloomberg News, shares his expertise on the financial ramifications of rising tariffs under President Trump. He discusses how these tariffs, averaging 15%, have impacted stock markets and triggered a rush in exports, particularly benefiting Asian economies. The conversation also highlights contrasting fortunes in tech: Amazon’s dip due to weaker projections while Apple enjoys significant revenue growth. Additionally, discussions surrounding the upcoming July jobs report shed light on the broader economic outlook.
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Sharp Rise in U.S. Tariffs
- The average U.S. tariff rate has risen sharply from 2.5% to around 15% since President Trump took office.
- This represents one of the steepest tariff increases since the 1930s, posing a big challenge for the economy.
Economy Weathering Tariffs So Far
- July jobs growth is expected to slow and unemployment tick up slightly, but the economy isn’t in danger yet.
- Tariffs have led companies to raise prices but not to cut jobs so far, keeping Fed response measured.
Trump's Fed Pressure Risks Growth
- President Trump's pressure on Fed Chair Powell to lower rates focuses on managing U.S. debt costs.
- Former Fed Vice Chair Lyle Brainerd warns such demands resemble emerging market central bank mistakes and may harm growth.