World Business Report Can the world survive Trump's new tariffs?
Aug 7, 2025
Linda Yu, an Economics professor at Oxford University, dives into the chaos of Trump's newly implemented tariffs, which range from 15% to 50%. She discusses the fallout for importers and exporters, particularly emphasizing the struggles of small Indian businesses in textiles and jewelry. The episode further explores how these tariffs are reshaping the U.S. manufacturing landscape, pushing companies to increase domestic semiconductor production. Economic repercussions still loom, including inflation concerns and the impact on global trade relationships.
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Uncertainty Surrounding New US Tariffs
- New US tariffs range from 10% to 50% on many imports starting today.
- Confusion remains over exemptions and potential negotiations, highlighting ongoing uncertainty.
Indian Exporters Fear Job Losses
- Indian exporters fear losing US business due to 50% tariffs, especially in textiles and gems.
- This risks job cuts and economic impact in India if tariffs persist.
US Textile Owner Faces Steep Tariffs
- LeGrand Lindor’s Massachusetts textile business faces 50% tariffs on aluminum supply imports primarily from France.
- These tariffs increase costs and prompt considering reshoring or sourcing alternatives.