WSJ What’s News Trump Opens Key Trade Week With Fresh Tariff Threat
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Jul 7, 2025 
Quentin Webb, Deputy Finance Editor at The Wall Street Journal, discusses President Trump's potential new tariffs on BRICS nations, setting the stage for intensive trade negotiations. He highlights the urgency as a Wednesday deadline approaches. The pod also touches on the aftermath of devastating Texas floods and Elon Musk's controversial political ambitions impacting Tesla shares. Additionally, there’s a thought-provoking exploration of AI's looming effects on employment, with concerns about job displacement and shifting corporate strategies.
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Trump's Tariff Threats Shake Markets
- President Trump threatens 10% tariffs on countries aligning with the expanded BRICS group.
- This tariff threat has injected tension into a critical week for trade deals and hit stock markets negatively.
US Targets Trade Partners Differently
- Two groups of countries face U.S. tariffs: core large trade partners and numerous smaller nations.
- The U.S. plans deals with major partners but sends tariff notices to about 100 smaller countries without detailed negotiations.
Texas Flash Flood Tragedy
- Texas flash floods killed at least 82 people, many along the rapidly swollen Guadalupe River.
- The flood's speed shocked locals; rain totals far exceeded forecasts, causing extreme dangers.