Bloomberg Businessweek Trump Announces New Set of Tariff Rates Ahead of August Deadline
Jul 7, 2025
Kathy Castor, a US Representative from Florida, shares her thoughts on the potential impacts of new tariffs on local businesses and healthcare. Jimena Zuniga, a Latin America geo-economic analyst, discusses the dynamics at the BRICS summit and how US tariffs could affect member nations. Julie Fine reports on tragic flash flooding in Texas and ongoing rescue efforts. Bryan Fairbanks, CEO of Trex, explores how tariffs impact manufacturing trends and discusses strategies for growth in the competitive decking market.
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Targeted Tariffs vs Chaos
- Tariffs can be useful if targeted and strategic but chaotic application creates uncertainty for businesses.
- Announcing tariffs on allies like Japan and South Korea risks damaging key trade partnerships and increases costs for U.S. businesses and consumers.
Critique of the Big Spending Bill
- The recent $4 trillion tax and spending bill cuts healthcare and assistance while giving tax breaks to the wealthy.
- These measures threaten manufacturing growth and drive up inflation and costs for American families and businesses.
Clean Energy Setback Risks China Lead
- Rolling back clean energy tax credits leads to higher electricity costs and harms a U.S. clean energy manufacturing boom.
- This benefits China by ceding leadership in clean technology manufacturing and dampens job creation.