Trump tariffs live updates: Buffett's Berkshire portfolio takes tariffs hit; Trump outlines sweeping new tariffs for dozens of trade partners
Warren Buffett's Berkshire Hathaway said on Saturday that its consumer goods businesses took a hit from US tariffs, Reuters reported. Its consumer products group, which includes Fruit of the Loom and Brooks Sports, saw a 5.1% year-over-year revenue decline in the second quarter.
Berkshire blamed the tariffs for delays in orders and shipments.
In May, during Berkshire's annual meeting, Buffett strongly defended free trade. He said tarffs should not be used as a "weapon" adding "balanced trade is good for the world."
Meanwhile, President Trump outlined tariff rates on dozens of trade partners, taking a step toward further reshaping the US trade landscape.
Trump signed an order to hike tariffs on Canada to 35%, while he kept a baseline minimum rate of 10% across all partners. The tariffs on Canada go into effect Friday, while many of the other "reciprocal" rates take effect Aug. 7.
Global stocks fell Friday as Trump's imposed tariffs on dozens of countries, advancing his effort to reshape global trade.
Yahoo Finance's Ben Werschkul has more details on the latest orders here. You can see the new rates Trump is set to levy in the graphic below:
In the past several days, Trump has unleashed a flurry of deals and trade moves leading up to his self-imposed deadline:
Trump granted Mexico, the US's largest trading partner, a 90-day reprieve on higher tariffs, saying he would extend the country's current tariff rates to allow for more time for negotiations.
The US agreed to a trade deal South Korea. The agreement includes a 15% tariff rate on imports from the country, while the US will not be charged a tariff on its exports, Trump said.
Trump imposed 50% tariffs on semi-finished copper products starting Aug. 1, but he stopped short of applying the duties to copper scrap and input materials, sending copper (HG=F) futures plunging throughout the week.
The president signed an order to end the de minimis exemption on low-value imports under $800, thereby applying tariffs from Aug. 29.
Trump signed another order to impose a total of 50% tariffs on many goods from Brazil. However, it exempts key US imports like orange juice and aircraft parts that benefit Embraer (ERJ).
The US and EU agreed to a trade deal that imposes 15% tariffs on EU goods. The two sides still need to iron out several key issues.
Meanwhile, the US and China completed a third round of trade talks this week, and Treasury Secretary Scott Bessent said on Thursday that they have "the makings of a trade deal." The countries face an Aug. 12 deadline to extend a pause on sky-high tariffs.
Read more: What Trump's tariffs mean for the economy and your wallet
Here are the latest updates as the policy reverberates around the world.
Berkshire's consumer goods companies feel the sting of Trump's tariffs
Not even the Oracle of Omaha can avoid the pinch of President Trump's trade war, it seems.
Warren Buffett's Berkshire Hathaway said Saturday its consumer goods businesses felt the impact of Trump's trade policy, which raised tariffs on imported goods, Reuters reported:
Read more here.
US has 'makings of a deal' with China, Bessent says
Treasury Secretary said on X that the US has "makings of a deal" with China.
Reuters reports:
Read more here.
Nike, Deckers, On Running among footwear stocks under pressure as Trump outlines latest tariff plans
Footwear companies like Deckers (DECK), Nike (NKE), and On Holding (ONON) are under pressure from President Trump's tariff plans, including new rates released Thursday evening that range from 10% to 40%.
Yahoo Finance's Brooke DiPalma reports:
Read more here.
Stocks sink after Trump's latest tariff blitz
Stocks came under pressure Friday after President Trump unveiled his plan for sweeping tariffs on almost all trading partners.
Also weighing on sentiment were further signs of cracks in the labor market, punctuated by a weaker-than-expected jobs report released Friday morning.
You can check out the latest action and updates in our markets live blog.
Trump's 40% penalty for tariff dodging missing key details
President Trump's tariff surprises are far from over. The US president has threatened to slap an extra 40% tariff on any product that Washington determines to be transshipped via another country. Its believed that this may be punishment, aimed at stopping goods mainly from China dodging US duties.
The penalty for transshipping, which is when goods are moved from one type of transport to another, while on the way to where they're going, was included within the White house announcement on Thursday. But countries still do not have all the details.
Bloomberg News reports:
Read more here.
Trump unleashes massive tariffs on Swiss watches, pharma firms
Switzerland's exporters are bracing for financial fallout from President Trump's 39% tariffs, one of the steepest rates globally in his escalating trade war.
From watch makers to pharmaceutical companies the knock on effect of Trump's new tariffs will be felt.
The new tariffs on Switzerland are part of a broader package announced by Trump on Thursday.
But Swiss manufacturers warned on Friday that tens of thousands of jobs are at risk due to Trump's tariff hit.
Trump's 39% tariffs on Swiss exports do exclude the country's drug sector, but pharmaceutical companies Novartis AG (NVS) and Roche Holding (RHHBY) were one of the 17 global pharma firms to receive a letter from Trump demanding lower prices.
"It's a massive shock for the export industry and for the whole country. We are really stunned," said Jean-Philippe Kohl, deputy director of Swissmem, representing the mechanical and electrical engineering industries.
Bloomberg News reports:
Read more here.
Trump unleashes delayed shock for global economy
Four months after Donald Trump rattled markets by revealing steep tariff plans, his latest update has drawn a quieter response from investors.
Still, average tariffs now sit at 15% - some of the highest since the 1930s - with rates rising further for countries that run trade surpluses with the US.
So far, the global economy has absorbed the impact better than expected, but with the new tariffs kicking in that resilience may be tested.
Bloomberg News reports:
Read more here.
Copper set for weekly drop on LME after Trump's tariff surprise
Copper (HG=F) prices edged higher on Friday but were on track for a weekly drop in London as the market took stock of President Trump's decision to exempt refined forms of the metal from hefty US import tariffs.
Bloomberg News reports:
Bangladesh secures 20% US tariff for garments, exporters relieved
Bangladesh has negotiated a 20% tariff on exports to the US. This tariff rate has reduced from the initial 37% proposed by President Trump and has brought some relief to the world's second-largest garment supplier.
Reuters reports:
Read more here.
BOJ: US tariffs could hit firms' profits, delay capex plans
The Bank of Japan warned on Friday that profits of Japanese firms are likely to fall this year due to President Trump's US tariffs. This will lead many companies in Japan to downgrade capital expenditure plans. The central bank has signalled caution over an expected hit to the export-dependent economy.
Reuters reports:
Read more here.
Trump hikes tariffs on Canada to 35%, outlines sweeping new duties on dozens of trade partners
The White House took a step forward with President Trump's plan to remake the trade landscape by releasing new details Thursday evening that included a raft of new tariff rates now formally authorized by executive order, which set new levels from 15% to 40% on over 70 countries.
The move represents a giant shakeup in the US's trade order, with outlined rates that range from a 35% tariff on Canada (up from 25%) to rates above 30% on nations from Algeria to Switzerland.
But there's a last minute catch, as these new rates will not go into effect for seven days, instead of a midnight Friday deadline as originally planned — according to the text of the order.
India, after initial high hopes for a deal that have bogged down in recent weeks, is set to face a 25% rate but now appears to have another week to negotiate.
Taiwan is another top US trading partner and is set to see a 20% rate.
The White House documentation released Thursday also confirmed some of the parameters of recent deals including 19%-20% rates on a range of Southeast Asian nations and an unchanged 10% rate on the United Kingdom.
Dozens of other nations also saw their tariff rates upped to 15% from 10% — in line with deals sketched out in recent days that included that headline 15% tariff rate on Europe, South Korea, and Japan.
But some nations were not included in Tuesday's release — those omitted included many nations with which the US currently has a trade surplus — who therefore are set to see their rates remain at 10%, in a surprise relief for some after comments from Trump in recent days suggested 15% would be his new minimum.
Read more here.
Trump extends Mexico's current tariff rates
President Trump said he would extend Mexico's current tariff rates for another 90 days to allow for more time for negotiations. Mexico was facing tariffs of up to 35% on certain goods beginning on Friday.
The reprieve came after Trump talked with Mexican President Claudia Sheinbaum.
Imports from Mexico will still be subject to other tariffs, namely duties on metals and cars.
Brazil sees 35.9% of exports to US facing steeper tariff: Sources
Reuters reports:
Read more here.
Trump: Tariffs are making 'America great and rich again'
President Trump hit Truth Social again on Thursday posting that tariffs are making America "great and rich again."
"ONE YEAR AGO, AMERICA WAS A DEAD COUNTRY, NOW IT IS THE 'HOTTEST'COUNTRY ANYWHERE IN THE WORLD. CONGRATULATIONS TO ALL!," Trump posted.
The US president also had a message for Washington's federal appeal court judges, who Trump will be meeting today in order to defend his tariffs.
"To all of my great lawyers who have fought so hard to save our Country, good luck in America's big case today. If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE 'DEAD,' WITH NO CHANCE OF SURVIVAL OR SUCCESS. Thank you for your attention to this matter!"
On the eve of Trump's tariff deadline the US president unleashed a flurry of surprises. With news of deals with Thailand, Cambodia and rumours of deals with Taiwan.
Unless trading partners reach an agreement by tomorrow, many will face higher tariffs.
What's in the US-EU trade deal depends on who is doing the talking
Yahoo Finance's Washington correspondent Ben Werschkul looks into the detail of the US-EU trade deal:
Read more here.
Trump back in court Thursday to defend the tariffs he plans to impose Friday
US president Trump has already started to defend tariffs via his social media app Truth Social. Trump who will be meeting with US federal appeal court judges today posted that tariffs are making "America great and rich again."
"To all of my great lawyers who have fought so hard to save our Country, good luck in America's big case today. If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE 'DEAD,' WITH NO CHANCE OF SURVIVAL OR SUCCESS. Thank you for your attention to this matter!" Trump added.
Yahoo Finance's senior legal reporter Alexis Keenan breaks down President Trump's face-off with the federal appeals court judges over his tariffs:
Read more here.
Pakistan and US reach a trade agreement to develop oil reserves and reduce tariffs
The US and Pakistan have announced that they have reached a trade agreement that would allow Washington to develop Pakistan's untapped oil reserves and lower tariffs for the South Asian country, officials from both nation's said on Thursday.
AP reports:
Read more here.
EU wine, spirits to face 15% US tariff from August 1: EU official
Reuters reports:
Read more here.
Trump tariff surprise triggers implosion of massive copper trade
Bloomberg reports:
The global copper market is reeling from its biggest shock yet in a year of policy surprises, violent price swings and unprecedented trade dislocation.
President Donald Trump went ahead with 50% tariffs on copper imports, but exempted refined metals that are the mainstay of international trading. The move triggered a record plunge for US prices, after an unprecedented period of fat profits for traders who hurried metal to America before the levies kicked in. A large premium for New York futures over London evaporated.
'This has badly deviated from market expectations,' said Li Xuezhi, head of research at Chaos Ternary Futures Co., a unit of a commodities hedge fund in Shanghai. Those betting on higher US prices have 'wasted all their efforts' and global copper flows will return to normal, he said.
Read more here.
Lutnick: US made trade deals with Thailand and Cambodia
Bloomberg News reports:
Read more here.
Berkshire's consumer goods companies feel the sting of Trump's tariffs
Not even the Oracle of Omaha can avoid the pinch of President Trump's trade war, it seems.
Warren Buffett's Berkshire Hathaway said Saturday its consumer goods businesses felt the impact of Trump's trade policy, which raised tariffs on imported goods, Reuters reported:
Read more here.
Not even the Oracle of Omaha can avoid the pinch of President Trump's trade war, it seems.
Warren Buffett's Berkshire Hathaway said Saturday its consumer goods businesses felt the impact of Trump's trade policy, which raised tariffs on imported goods, Reuters reported:
Read more here.
US has 'makings of a deal' with China, Bessent says
Treasury Secretary said on X that the US has "makings of a deal" with China.
Reuters reports:
Read more here.
Treasury Secretary said on X that the US has "makings of a deal" with China.
Reuters reports:
Read more here.
Nike, Deckers, On Running among footwear stocks under pressure as Trump outlines latest tariff plans
Footwear companies like Deckers (DECK), Nike (NKE), and On Holding (ONON) are under pressure from President Trump's tariff plans, including new rates released Thursday evening that range from 10% to 40%.
Yahoo Finance's Brooke DiPalma reports:
Read more here.
Footwear companies like Deckers (DECK), Nike (NKE), and On Holding (ONON) are under pressure from President Trump's tariff plans, including new rates released Thursday evening that range from 10% to 40%.
Yahoo Finance's Brooke DiPalma reports:
Read more here.
Stocks sink after Trump's latest tariff blitz
Stocks came under pressure Friday after President Trump unveiled his plan for sweeping tariffs on almost all trading partners.
Also weighing on sentiment were further signs of cracks in the labor market, punctuated by a weaker-than-expected jobs report released Friday morning.
You can check out the latest action and updates in our markets live blog.
Stocks came under pressure Friday after President Trump unveiled his plan for sweeping tariffs on almost all trading partners.
Also weighing on sentiment were further signs of cracks in the labor market, punctuated by a weaker-than-expected jobs report released Friday morning.
You can check out the latest action and updates in our markets live blog.
Trump's 40% penalty for tariff dodging missing key details
President Trump's tariff surprises are far from over. The US president has threatened to slap an extra 40% tariff on any product that Washington determines to be transshipped via another country. Its believed that this may be punishment, aimed at stopping goods mainly from China dodging US duties.
The penalty for transshipping, which is when goods are moved from one type of transport to another, while on the way to where they're going, was included within the White house announcement on Thursday. But countries still do not have all the details.
Bloomberg News reports:
Read more here.
President Trump's tariff surprises are far from over. The US president has threatened to slap an extra 40% tariff on any product that Washington determines to be transshipped via another country. Its believed that this may be punishment, aimed at stopping goods mainly from China dodging US duties.
The penalty for transshipping, which is when goods are moved from one type of transport to another, while on the way to where they're going, was included within the White house announcement on Thursday. But countries still do not have all the details.
Bloomberg News reports:
Read more here.
Trump unleashes massive tariffs on Swiss watches, pharma firms
Switzerland's exporters are bracing for financial fallout from President Trump's 39% tariffs, one of the steepest rates globally in his escalating trade war.
From watch makers to pharmaceutical companies the knock on effect of Trump's new tariffs will be felt.
The new tariffs on Switzerland are part of a broader package announced by Trump on Thursday.
But Swiss manufacturers warned on Friday that tens of thousands of jobs are at risk due to Trump's tariff hit.
Trump's 39% tariffs on Swiss exports do exclude the country's drug sector, but pharmaceutical companies Novartis AG (NVS) and Roche Holding (RHHBY) were one of the 17 global pharma firms to receive a letter from Trump demanding lower prices.
"It's a massive shock for the export industry and for the whole country. We are really stunned," said Jean-Philippe Kohl, deputy director of Swissmem, representing the mechanical and electrical engineering industries.
Bloomberg News reports:
Read more here.
Switzerland's exporters are bracing for financial fallout from President Trump's 39% tariffs, one of the steepest rates globally in his escalating trade war.
From watch makers to pharmaceutical companies the knock on effect of Trump's new tariffs will be felt.
The new tariffs on Switzerland are part of a broader package announced by Trump on Thursday.
But Swiss manufacturers warned on Friday that tens of thousands of jobs are at risk due to Trump's tariff hit.
Trump's 39% tariffs on Swiss exports do exclude the country's drug sector, but pharmaceutical companies Novartis AG (NVS) and Roche Holding (RHHBY) were one of the 17 global pharma firms to receive a letter from Trump demanding lower prices.
"It's a massive shock for the export industry and for the whole country. We are really stunned," said Jean-Philippe Kohl, deputy director of Swissmem, representing the mechanical and electrical engineering industries.
Bloomberg News reports:
Read more here.
Trump unleashes delayed shock for global economy
Four months after Donald Trump rattled markets by revealing steep tariff plans, his latest update has drawn a quieter response from investors.
Still, average tariffs now sit at 15% - some of the highest since the 1930s - with rates rising further for countries that run trade surpluses with the US.
So far, the global economy has absorbed the impact better than expected, but with the new tariffs kicking in that resilience may be tested.
Bloomberg News reports:
Read more here.
Four months after Donald Trump rattled markets by revealing steep tariff plans, his latest update has drawn a quieter response from investors.
Still, average tariffs now sit at 15% - some of the highest since the 1930s - with rates rising further for countries that run trade surpluses with the US.
So far, the global economy has absorbed the impact better than expected, but with the new tariffs kicking in that resilience may be tested.
Bloomberg News reports:
Read more here.
Copper set for weekly drop on LME after Trump's tariff surprise
Copper (HG=F) prices edged higher on Friday but were on track for a weekly drop in London as the market took stock of President Trump's decision to exempt refined forms of the metal from hefty US import tariffs.
Bloomberg News reports:
Copper (HG=F) prices edged higher on Friday but were on track for a weekly drop in London as the market took stock of President Trump's decision to exempt refined forms of the metal from hefty US import tariffs.
Bloomberg News reports:
Bangladesh secures 20% US tariff for garments, exporters relieved
Bangladesh has negotiated a 20% tariff on exports to the US. This tariff rate has reduced from the initial 37% proposed by President Trump and has brought some relief to the world's second-largest garment supplier.
Reuters reports:
Read more here.
Bangladesh has negotiated a 20% tariff on exports to the US. This tariff rate has reduced from the initial 37% proposed by President Trump and has brought some relief to the world's second-largest garment supplier.
Reuters reports:
Read more here.
BOJ: US tariffs could hit firms' profits, delay capex plans
The Bank of Japan warned on Friday that profits of Japanese firms are likely to fall this year due to President Trump's US tariffs. This will lead many companies in Japan to downgrade capital expenditure plans. The central bank has signalled caution over an expected hit to the export-dependent economy.
Reuters reports:
Read more here.
The Bank of Japan warned on Friday that profits of Japanese firms are likely to fall this year due to President Trump's US tariffs. This will lead many companies in Japan to downgrade capital expenditure plans. The central bank has signalled caution over an expected hit to the export-dependent economy.
Reuters reports:
Read more here.
Trump hikes tariffs on Canada to 35%, outlines sweeping new duties on dozens of trade partners
The White House took a step forward with President Trump's plan to remake the trade landscape by releasing new details Thursday evening that included a raft of new tariff rates now formally authorized by executive order, which set new levels from 15% to 40% on over 70 countries.
The move represents a giant shakeup in the US's trade order, with outlined rates that range from a 35% tariff on Canada (up from 25%) to rates above 30% on nations from Algeria to Switzerland.
But there's a last minute catch, as these new rates will not go into effect for seven days, instead of a midnight Friday deadline as originally planned — according to the text of the order.
India, after initial high hopes for a deal that have bogged down in recent weeks, is set to face a 25% rate but now appears to have another week to negotiate.
Taiwan is another top US trading partner and is set to see a 20% rate.
The White House documentation released Thursday also confirmed some of the parameters of recent deals including 19%-20% rates on a range of Southeast Asian nations and an unchanged 10% rate on the United Kingdom.
Dozens of other nations also saw their tariff rates upped to 15% from 10% — in line with deals sketched out in recent days that included that headline 15% tariff rate on Europe, South Korea, and Japan.
But some nations were not included in Tuesday's release — those omitted included many nations with which the US currently has a trade surplus — who therefore are set to see their rates remain at 10%, in a surprise relief for some after comments from Trump in recent days suggested 15% would be his new minimum.
Read more here.
The White House took a step forward with President Trump's plan to remake the trade landscape by releasing new details Thursday evening that included a raft of new tariff rates now formally authorized by executive order, which set new levels from 15% to 40% on over 70 countries.
The move represents a giant shakeup in the US's trade order, with outlined rates that range from a 35% tariff on Canada (up from 25%) to rates above 30% on nations from Algeria to Switzerland.
But there's a last minute catch, as these new rates will not go into effect for seven days, instead of a midnight Friday deadline as originally planned — according to the text of the order.
India, after initial high hopes for a deal that have bogged down in recent weeks, is set to face a 25% rate but now appears to have another week to negotiate.
Taiwan is another top US trading partner and is set to see a 20% rate.
The White House documentation released Thursday also confirmed some of the parameters of recent deals including 19%-20% rates on a range of Southeast Asian nations and an unchanged 10% rate on the United Kingdom.
Dozens of other nations also saw their tariff rates upped to 15% from 10% — in line with deals sketched out in recent days that included that headline 15% tariff rate on Europe, South Korea, and Japan.
But some nations were not included in Tuesday's release — those omitted included many nations with which the US currently has a trade surplus — who therefore are set to see their rates remain at 10%, in a surprise relief for some after comments from Trump in recent days suggested 15% would be his new minimum.
Read more here.
Trump extends Mexico's current tariff rates
President Trump said he would extend Mexico's current tariff rates for another 90 days to allow for more time for negotiations. Mexico was facing tariffs of up to 35% on certain goods beginning on Friday.
The reprieve came after Trump talked with Mexican President Claudia Sheinbaum.
Imports from Mexico will still be subject to other tariffs, namely duties on metals and cars.
President Trump said he would extend Mexico's current tariff rates for another 90 days to allow for more time for negotiations. Mexico was facing tariffs of up to 35% on certain goods beginning on Friday.
The reprieve came after Trump talked with Mexican President Claudia Sheinbaum.
Imports from Mexico will still be subject to other tariffs, namely duties on metals and cars.
Brazil sees 35.9% of exports to US facing steeper tariff: Sources
Reuters reports:
Read more here.
Reuters reports:
Read more here.
Trump: Tariffs are making 'America great and rich again'
President Trump hit Truth Social again on Thursday posting that tariffs are making America "great and rich again."
"ONE YEAR AGO, AMERICA WAS A DEAD COUNTRY, NOW IT IS THE 'HOTTEST'COUNTRY ANYWHERE IN THE WORLD. CONGRATULATIONS TO ALL!," Trump posted.
The US president also had a message for Washington's federal appeal court judges, who Trump will be meeting today in order to defend his tariffs.
"To all of my great lawyers who have fought so hard to save our Country, good luck in America's big case today. If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE 'DEAD,' WITH NO CHANCE OF SURVIVAL OR SUCCESS. Thank you for your attention to this matter!"
On the eve of Trump's tariff deadline the US president unleashed a flurry of surprises. With news of deals with Thailand, Cambodia and rumours of deals with Taiwan.
Unless trading partners reach an agreement by tomorrow, many will face higher tariffs.
President Trump hit Truth Social again on Thursday posting that tariffs are making America "great and rich again."
"ONE YEAR AGO, AMERICA WAS A DEAD COUNTRY, NOW IT IS THE 'HOTTEST'COUNTRY ANYWHERE IN THE WORLD. CONGRATULATIONS TO ALL!," Trump posted.
The US president also had a message for Washington's federal appeal court judges, who Trump will be meeting today in order to defend his tariffs.
"To all of my great lawyers who have fought so hard to save our Country, good luck in America's big case today. If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE 'DEAD,' WITH NO CHANCE OF SURVIVAL OR SUCCESS. Thank you for your attention to this matter!"
On the eve of Trump's tariff deadline the US president unleashed a flurry of surprises. With news of deals with Thailand, Cambodia and rumours of deals with Taiwan.
Unless trading partners reach an agreement by tomorrow, many will face higher tariffs.
What's in the US-EU trade deal depends on who is doing the talking
Yahoo Finance's Washington correspondent Ben Werschkul looks into the detail of the US-EU trade deal:
Read more here.
Yahoo Finance's Washington correspondent Ben Werschkul looks into the detail of the US-EU trade deal:
Read more here.
Trump back in court Thursday to defend the tariffs he plans to impose Friday
US president Trump has already started to defend tariffs via his social media app Truth Social. Trump who will be meeting with US federal appeal court judges today posted that tariffs are making "America great and rich again."
"To all of my great lawyers who have fought so hard to save our Country, good luck in America's big case today. If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE 'DEAD,' WITH NO CHANCE OF SURVIVAL OR SUCCESS. Thank you for your attention to this matter!" Trump added.
Yahoo Finance's senior legal reporter Alexis Keenan breaks down President Trump's face-off with the federal appeals court judges over his tariffs:
Read more here.
US president Trump has already started to defend tariffs via his social media app Truth Social. Trump who will be meeting with US federal appeal court judges today posted that tariffs are making "America great and rich again."
"To all of my great lawyers who have fought so hard to save our Country, good luck in America's big case today. If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE 'DEAD,' WITH NO CHANCE OF SURVIVAL OR SUCCESS. Thank you for your attention to this matter!" Trump added.
Yahoo Finance's senior legal reporter Alexis Keenan breaks down President Trump's face-off with the federal appeals court judges over his tariffs:
Read more here.
Pakistan and US reach a trade agreement to develop oil reserves and reduce tariffs
The US and Pakistan have announced that they have reached a trade agreement that would allow Washington to develop Pakistan's untapped oil reserves and lower tariffs for the South Asian country, officials from both nation's said on Thursday.
AP reports:
Read more here.
The US and Pakistan have announced that they have reached a trade agreement that would allow Washington to develop Pakistan's untapped oil reserves and lower tariffs for the South Asian country, officials from both nation's said on Thursday.
AP reports:
Read more here.
EU wine, spirits to face 15% US tariff from August 1: EU official
Reuters reports:
Read more here.
Reuters reports:
Read more here.
Trump tariff surprise triggers implosion of massive copper trade
Bloomberg reports:
The global copper market is reeling from its biggest shock yet in a year of policy surprises, violent price swings and unprecedented trade dislocation.
President Donald Trump went ahead with 50% tariffs on copper imports, but exempted refined metals that are the mainstay of international trading. The move triggered a record plunge for US prices, after an unprecedented period of fat profits for traders who hurried metal to America before the levies kicked in. A large premium for New York futures over London evaporated.
'This has badly deviated from market expectations,' said Li Xuezhi, head of research at Chaos Ternary Futures Co., a unit of a commodities hedge fund in Shanghai. Those betting on higher US prices have 'wasted all their efforts' and global copper flows will return to normal, he said.
Read more here.
Bloomberg reports:
The global copper market is reeling from its biggest shock yet in a year of policy surprises, violent price swings and unprecedented trade dislocation.
President Donald Trump went ahead with 50% tariffs on copper imports, but exempted refined metals that are the mainstay of international trading. The move triggered a record plunge for US prices, after an unprecedented period of fat profits for traders who hurried metal to America before the levies kicked in. A large premium for New York futures over London evaporated.
'This has badly deviated from market expectations,' said Li Xuezhi, head of research at Chaos Ternary Futures Co., a unit of a commodities hedge fund in Shanghai. Those betting on higher US prices have 'wasted all their efforts' and global copper flows will return to normal, he said.
Read more here.
Lutnick: US made trade deals with Thailand and Cambodia
Bloomberg News reports:
Read more here.
Bloomberg News reports:
Read more here.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
6 minutes ago
- Yahoo
3 Reasons XPO Stock Could Take Off in the Second Half of the Year
Key Points XPO beat estimates on the top and bottom lines in its second-quarter report. After an earlier investment cycle, management expects capex as a percentage of revenue to start to decline. XPO was the only one of the three major LTL carriers to improve its operating ratio in the quarter. 10 stocks we like better than XPO › The stock of XPO (NYSE: XPO) was one of the biggest winners of the last decade, and the less-than-truckload (LTL) carrier has continued in recent years, as the stock has quadrupled since early 2023. Those gains followed the spinoff of both GXO Logistics and RXO, its former truck brokerage division. Like its peers including Old Dominion Freight Lines and Saia, XPO continues to face headwinds from a "freight recession" that has lasted for about two to three years as manufacturing activity and industrial production have mostly contracted during that time. Nonetheless, the carrier has found new ways to grow its bottom line and improve margins, and those trends were on display in its second-quarter earnings report. XPO clears the Wall Street bar In a difficult macro environment, XPO reported flat revenue at $2.08 billion, which topped estimates at $2.05 billion. Revenue in the core North American LTL business (carriers that specialize in transporting smaller shipments that don't require a full truckload) was down 2.5% to $1.24 billion, while its European Transportation segment rose 4.1% to $841 million. Tonnage was down 6.7% per day, but the company made up for the decline in volume with an increase in yield (or price) of 6.1%, excluding fuel. Price increases were driven in part by service improvements like reducing damage claims and improved on-time performance that have allowed the company to raise prices. And it has found growth in the local market, serving small to medium-size businesses in need of local transportation. XPO was the only one of the three top LTL carriers to improve its adjusted operating ratio, which is the inverse of operating margin, in North America, which fell 30 basis points to 82.9% (a lower ratio is an indication of higher efficiency). Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) were essentially flat, falling from $343 million to $340 million, while adjusted earnings per share (EPS) fell from $1.12 to $1.05 as it lapped a tax benefit from the year before. That result still beat the consensus at $0.99. Investors seemed to shrug off the news as the stock was down slightly following the results and the earnings call, but XPO could please investors in the back half of the year. Let's take a look at a few reasons why. 1. Share buybacks are set to resume Historically, share repurchases have been a key tool for XPO to generate shareholder value, and it has deployed them effectively. The company began repurchasing its stock again in the second quarter, buying back a modest $10 million, and chief strategy officer Ali Faghri said in an interview with The Motley Fool that he expected those repurchases to pick up in the second half of the year, the time of year when it brings in the vast majority of its free cash flow due to the seasonality of its capital expenditures (capex). After years of ramping up capex to invest in new tractors, trailers, and terminals, the company expects capex as a percentage of revenue to start to decline, freeing up cash to invest in share repurchases and paying down debt. Both of those moves should help lift EPS as debt reduction will lower its interest expense, which ate up more than a quarter of operating income in the second quarter, and lowering shares outstanding will boost per-share earnings even if net income remains flat. 2. Nearshoring could drive growth in the industrial economy Growth in the LTL sector and for XPO in particular is closely tied to manufacturing activity in the country, and according to the ISM Manufacturing Purchasing Managers Index (PMI), manufacturing activity has been declining for most of the last three years. It's unclear if trade negotiations have had an impact so far on XPO's business, but Faghri was optimistic that the new round of tariffs could help encourage nearshoring, or the return of manufacturing to the U.S., which would be a boon to XPO since two-thirds of its business comes from industrial customers. More U.S manufacturing would drive demand for LTL transportation, and could fuel a boom in the industry after years of stagnation. 3. Its local business is accelerating Despite the overall headwinds in tonnage, XPO is finding growth in the local channel, where a combination of investing in a local sales force and improvement in service quality through lower damage claims and improved on-time percentages have helped it attract more local business. That segment grew by high single digits in the second quarter, according to Faghri. That's also a key strategic initiative for the company since those tend to be higher-margin customers. Over the longer term, XPO aims to grow its share of revenue from the local channel from 20% to 30%. That figure is now in the low-to-mid 20% range, indicating more runway ahead as it grabs market share in that segment. Overall, XPO remains on track to achieve the 2027 goals it announced in 2021, which include compound annual revenue growth of 6% to 8%, compound annual adjusted EBITDA growth of 11% to 13%, and a 600-basis-point decline in adjusted operating ratio, meaning it would improve to 81%. With three potential growth drivers for the second half of the year, XPO appears to be in position to deliver strong results for investors, even as the broader freight market is still weak. Should you invest $1,000 in XPO right now? Before you buy stock in XPO, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XPO wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $624,823!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,820!* Now, it's worth noting Stock Advisor's total average return is 1,019% — a market-crushing outperformance compared to 178% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Jeremy Bowman has positions in GXO Logistics, RXO, and XPO. The Motley Fool has positions in and recommends Old Dominion Freight Line. The Motley Fool recommends GXO Logistics, RXO, and XPO and recommends the following options: long January 2026 $195 calls on Old Dominion Freight Line and short January 2026 $200 calls on Old Dominion Freight Line. The Motley Fool has a disclosure policy. 3 Reasons XPO Stock Could Take Off in the Second Half of the Year was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 minutes ago
- Yahoo
Why Prime Video Is One of Amazon's Most Underrated Assets
Key Points Prime Video is no longer a cost center. Prime Video has more than 200 million viewers. Commerce, content, and ads are converging for Amazon. 10 stocks we like better than Amazon › Amazon (NASDAQ: AMZN) is best known for its sprawling e-commerce empire, dominant cloud infrastructure business, and its ever-growing Prime membership base. But quietly sitting inside this flywheel is a business with surprising strategic upside: Prime Video. For years, Prime Video was viewed as just another perk -- a nice-to-have feature bundled into the Prime membership. But that's changing. Between a new ad-supported model, a powerful position in connected TV (CTV), and seamless integration into Amazon's broader retail ecosystem, Prime Video is emerging as one of Amazon's most underrated growth engines. Here's why smart investors should start paying closer attention. Prime Video's strategic shift from perks to platform When Amazon first launched Prime Video, it wasn't trying to compete directly with entertainment companies like Netflix or Disney. Instead, it used video content to increase Prime subscriptions, drive loyalty, and reduce churn. The focus was to delight its e-commerce customers, and that strategy worked. Happy customers became more engaged, spending more time and money on the e-commerce platform. But what started as a defensive move has become a strategic pillar. Today, in addition to getting free content as Prime members, customers can also subscribe to third-party channels offered by partners under the Amazon Channel. Besides, Amazon made another pivotal move in January 2024: it began running ads on Prime Video, instantly unlocking a massive audience of over 200 million globally to advertisers. The streaming arm is also increasingly investing in originals, live sports, and localized content across global markets. In other words, Prime Video is quietly building up its ecosystem of services, positioning it well to evolve from a cost-center to a hugely profitable entity of its own. Amazon Ads and Prime Video Amazon Ads is one of the next growth frontiers for Amazon, in which Prime Video is going to play a major role. By rolling out ads across Prime Video by default in key markets, Amazon steps up its monetization efforts of its gigantic Prime subscriber base. Prime members can pay a small monthly fee to go ad-free, but most don't, turning Prime Video into one of the largest ad-supported streaming platforms globally. To put the opportunity size into perspective, Netflix has 300 million subscribers, of which 94 million use the ad-supported service. On the other hand, Disney+ has 126 million global paid subscribers. With more than 200 million viewers, Prime Video is already among the biggest streaming services provided globally. But Prime Video doesn't run an ordinary advertising business. Its ad engine taps into its vast retail data, letting brands target viewers based on actual purchase behavior. A viewer watching an online video might see a relevant sponsored product ad and buy it on Amazon without ever leaving the app. It's a frictionless loop that few competitors can replicate. Owning the connected TV stack Prime Video isn't just a content platform -- it's Amazon's gateway to the living room. And through its connected TV (CTV) footprint, Amazon is building an end-to-end advertising and commerce engine few can match. Amazon Fire TV, now with over 200 million devices sold globally, gives the company direct control over the connected TV hardware and software stack. This integrated approach allows it to collect first-party data, control the user experience, and serve ads more effectively than most CTV players. While traditional media networks are still figuring out how to merge streaming, commerce, and advertising, Amazon already has all three pieces in place. The implications are enormous. Advertisers not only reach an engaged, high-intent audience on Prime Video, but they can also close the loop through Amazon's retail engine. That kind of direct attribution -- seeing a sponsored ad on Fire TV, clicking through, and buying the product on Amazon -- is a marketer's dream. With increasing demand for measurable, performance-based advertising, this positions Amazon as a formidable player in the future of CTV. In other words, Prime Video plays a strategic role in Amazon's expanding ecosystem, in which commerce, content, and advertising converge to form a defensible business model that strengthens both the parts and the whole. Now is the time to take a closer look at Prime Video Investors often think of Amazon in silos: retail, cloud, advertising, logistics, etc. But the company's greatest strength lies in how these pieces connect. Prime Video may have started as a "nice-to-have" feature bundled into Prime, but it's quickly becoming one of Amazon's most powerful strategic assets. By bringing together entertainment, commerce, and advertising into a seamless flywheel, Amazon is building a future where Prime Video not only entertains--but drives growth across the entire business. It's time investors gave this overlooked asset a much closer look. Should you invest $1,000 in Amazon right now? Before you buy stock in Amazon, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Amazon wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $624,823!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,820!* Now, it's worth noting Stock Advisor's total average return is 1,019% — a market-crushing outperformance compared to 178% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Lawrence Nga has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Netflix, and Walt Disney. The Motley Fool has a disclosure policy. Why Prime Video Is One of Amazon's Most Underrated Assets was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
6 minutes ago
- Yahoo
Could Opendoor Technologies Be a Millionaire-Maker Stock?
Key Points Opendoor Technologies buys houses with the hope of flipping them to sell at higher prices. The stock has caught fire lately, as investors seem to be going back to the meme stock mentality that existed a few years ago. Opendoor's business isn't performing particularly well, though it's improving. 10 stocks we like better than Opendoor Technologies › Opendoor Technologies (NASDAQ: OPEN) operates an interesting housing-related business. There are reasons to like the stock if you are an aggressive investor. But there are also some very big reasons to be cautious. Before you buy Opendoor Technologies thinking it will make you a millionaire, you'll want to dig a bit deeper into the company's story. What does Opendoor Technologies do? From a simple perspective, Opendoor is a house flipper. It steps in to quickly buy homes in whatever condition they are in, easing the process for home sellers. Then Opendoor fixes up the houses it buys and sells them, hopefully at a higher price than what it paid. It uses a proprietary computer algorithm to help it select which houses to buy, and where, in 50 or so markets. House flipping is not new. It has been done by small investors for years, often with the investors having the skills to fix up the homes they buy. Opendoor is basically trying to take this business and scale it up. Given the unique nature of every home, that's a large and complex task. The company has achieved a great deal of success from an operational perspective, building out a platform for buying and selling homes and a network of professionals to manage and upgrade the homes it buys. What it has not achieved yet are sustainable profits. There are some inherent headwinds to that, given that property markets tend to be seasonal. Homebuying tends to take place most often in the spring and summer, which leaves the fall and winter with less transaction volume. Even if Opendoor manages to become profitable, investors need to be prepared for big profit swings throughout the year. And that means that a lot will ride on the success of the selling season every single year. What about the stock's massive price spike So the huge price spike that just occurred in Opendoor's stock must indicate something positive about the business, right? Not really. It seems like there has been a return of the meme stock hysteria that occurred a few years ago. In fact, the company had recently received a warning that its stock might be de-listed because it had fallen to such a low price level. Management had even gone so far as to schedule a special meeting to seek shareholder approval for a reverse stock split. That changes nothing about the business, but it raises the price of the shares because it reduces the number of shares outstanding. Often, however, a company's stock price will keep falling after a reverse split because the business remains the same. And in Opendoor's situation, the business is still unprofitable. The company has put the reverse stock split on pause for now, given the steep price advance. But investors looking at this situation need to tread with particular caution. Right now it looks more like investors are gambling with Opendoor stock than investing in the business. The stock could absolutely go higher from here, but it could also fall dramatically and quickly if meme stock investors move on to a new investment. At the end of the day, it remains an upstart business in a seasonal industry trying, and so far struggling, to become sustainably profitable. That's not a compelling story for a long-term investor. Opendoor is probably not your ticket to millionaire status There are likely to be people who make a lot of money gambling on Opendoor's stock. That's not the same thing as investing, however. And the risk of playing the meme stock game is that you end up being the last one in the door, which means you probably lose money. For investors who want to buy and hold stocks to build wealth over time, Opendoor is best avoided right now. In fact, until the business manages to become sustainably profitable, it probably only deserves to be on your watch list. Do the experts think Opendoor Technologies is a buy right now? The Motley Fool's expert analyst team, drawing on years of investing experience and deep analysis of thousands of stocks, leverages our proprietary Moneyball AI investing database to uncover top opportunities. They've just revealed their to buy now — did Opendoor Technologies make the list? When our Stock Advisor analyst team has a stock recommendation, it can pay to listen. After all, Stock Advisor's total average return is up 1,019% vs. just 178% for the S&P — that is beating the market by 841.12%!* Imagine if you were a Stock Advisor member when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $624,823!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,820!* The 10 stocks that made the cut could produce monster returns in the coming years. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Could Opendoor Technologies Be a Millionaire-Maker Stock? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
