THE NEW YORK TIMES: President Trump unveiled an updated slate of sweeping tariffs on Thursday, targeting imports from dozens of U.S. trading partners, in a major escalation of a potentially damaging global trade war without parallel in modern history.
For the most part, Mr. Trump's duties will take effect on Aug. 7, capping off months of haggling, tinkering and delay. The president enacted the new rates through a series of executive orders, some of which reflect preliminary trade deals struck recently with countries that offered favorable concessions to the United States.
Together, the actions amount to an audacious gamble by the White House, which believes its policies can reset the world trading order, raise new federal revenue and pressure private businesses to make more of their products domestically.
But Mr. Trump’s campaign is only beginning — and whether he will succeed remains an open question with great consequence for the U.S. economy. The president's trade brinkmanship has rattled financial markets around the world, and his tariffs threaten to raise prices on American consumers and businesses, who foot the bill for those duties when they import foreign goods. » | Lazaro Gamio, Tony Romm and Agnes Chang | Thursday, July 31, 2025
