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Bloomberg
19 minutes ago
- Bloomberg
Stuurman: Trump's Tariffs Impact Won't Be Easily Undone
As President Trump's reciprocal tariff deadline looms, its impact is still unknown in Africa, as no country has finalized a trade deal with the US. Ziyanda Stuurman, Advisor at Africa Practice spoke to Bloomberg's Horizons Middle East and Africa anchor Joumanna Bercetche on the impact of tariffs. (Source: Bloomberg)
Yahoo
19 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures mixed as Trump ramps up tariff threats ahead of August deadline
US stock futures were mixed as President Trump threatened stiff tariffs on imports from more than a dozen countries and delayed the return of sweeping April levies. Futures attached to the Dow Jones Industrial Average (YM=F) slipped 0.1% while the benchmark S&P 500 (ES=F) hovered near the baseline. Contracts on the tech-heavy Nasdaq 100 (NQ=F) rose 0.1%. On Monday, stocks fell as Trump posted to Truth Social letters addressed to the leaders of 14 countries threatening 25% to 40% tariffs starting August 1. Key US trading partners Japan and South Korea were among the group, as well as Malaysia, South Africa, and Indonesia. The president also signed an Executive Order Monday officially moving his July 9 deadline for the resumption of "Liberation Day" tariff rates to August 1. Read more: The latest on Trump's tariffs "The President may send more letters in the coming days and weeks," a statement from the White House said. In an early response to a tariff letter, South Korea said it would kick trade negotiations with the US into high gear, adding that it considered the new date an extension of a grace period. Other than on the trade, Wall Street expects a quiet week in terms of economic releases and earnings. Minutes from the Federal Reserve's June meeting land Wednesday, and Delta (DAL) kicks off earnings season Thursday.
Bloomberg
34 minutes ago
- Bloomberg
EU Wants Quick Framework Deal With US
Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. The European Union is aiming to clinch a preliminary trade deal with the US this week, a move that would allow it to lock in a 10% tariff rate beyond an Aug. 1 deadline as the two sides negotiate a permanent agreement. There's a range of products that the EU would like to see exempted from the rate, such as aircraft, aircraft parts as well as wine and spirits, we're told. Some form of relief is expected as part of the agreement in principle. The universal US tariffs that were due to kick in on July 9 would be delayed until at least the beginning of August, the White House announced on Monday. For the EU, tariffs on nearly all its exports to the US will jump to 50% on that date if it doesn't strike a deal beforehand.
