{"id":309870,"date":"2025-08-01T18:03:16","date_gmt":"2025-08-01T18:03:16","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/309870\/"},"modified":"2025-08-01T18:03:16","modified_gmt":"2025-08-01T18:03:16","slug":"trump-tariffs-live-updates-top-adviser-makes-stark-admission-after-weak-jobs-report-and-punishing-levies-see-stocks-tumble","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/309870\/","title":{"rendered":"Trump tariffs live updates: Top adviser makes stark admission after weak jobs report and punishing levies see stocks tumble"},"content":{"rendered":"

<\/a>Trump tariffs: Full list of countries hit by US president\u2019s new trade war levies<\/p>\n

Alexander Butler<\/strong> looks at which country got hit with what tariff: <\/p>\n

Oliver O’Connell1 August 2025 19:00<\/p>\n

<\/a>Watch: Sen. John Kennedy says job market is ‘softening’<\/p>\n

Oliver O’Connell1 August 2025 18:47<\/p>\n

<\/a>Trump’s tariffs: Asian allies blindsided by steep new levies<\/p>\n

Donald Trump<\/a>\u2019s latest tariff hikes have hit Asian countries the hardest, signalling a deepening rift with key economies in his drive to reshape global commerce.<\/p>\n

The hardened position of the US towards longstanding partners such as India<\/a> and Japan could reshape strategic alignments in Asia, casting doubt on the reliability of Washington as an ally.<\/p>\n

Oliver O’Connell1 August 2025 18:40<\/p>\n

<\/a>\"\"Foreign leaders \u2018ringing Trump\u2019s phone\u2019 to cut tariff deals, claim White House<\/a><\/p>\n

The White House says foreign leaders are \u201cringing Donald Trump\u2019s phone\u201d to negotiate trade deals after the US president announced a new wave of levies for over 90 countries. On Thursday (31 July), Mr Trump announced a huge series of \u201creciprocal tariffs\u201d ranging from 10% to 40% just hours before the original Friday (1 August) deadline. Speaking at The White Office, Press Secretary Karoline Leavitt said: \u201cI know foreign leaders are ringing his phone and realising that this deadline is a real thing for them so they\u2019re bringing offers to the table.\u201d Most of the announced tariffs will not go into effect until 7 August, except for 35% tariffs on Canada, which begin from 1 August.<\/p>\n

Oliver O’Connell1 August 2025 18:20<\/p>\n

<\/a>ANALYSIS: Trump\u2019s tariff day is here but if TACO\u2019s on the menu, the charade is over<\/p>\n

Donald Trump\u2019s tariff deadline<\/a> is here, and now, the bill is due \u2014 and Trump has a choice before him: enforce the levies against the nation\u2019s trading partners or TACO (Trump Always Chickens Out).<\/p>\n

As Wednesday morning dawned in DC, the president seemingly indicated that his days of \u201cpauses\u201d were over. In a Truth Social post, Trump declared: \u201cTHE AUGUST FIRST DEADLINE IS THE AUGUST FIRST DEADLINE \u2014 IT STANDS STRONG, AND WILL NOT BE EXTENDED.\u201d<\/p>\n

Yet, at the same time, he undermined that message.<\/p>\n

Oliver O’Connell1 August 2025 18:00<\/p>\n

<\/a>Wall Street: Stocks remain under pressure as markets slide on tariffs and jobs data<\/p>\n

Wall Street’s main indexes led a global selloff on Friday, as the imposition of new U.S. tariffs on numerous trading partners, combined with a weaker-than-expected payrolls report, weighed heavily on investor sentiment.<\/p>\n

Just hours before a tariff deadline, President Donald Trump signed an executive order imposing duties on U.S. imports from countries including Canada, Brazil, India, and Taiwan, even as nations scrambled to secure more favourable trade agreements.<\/p>\n

Labor Department data revealed that U.S. job growth slowed more significantly than anticipated in July, with previous months’ reports also undergoing sharp downward revisions, signaling a notable moderation in the job market.<\/p>\n

Kevin Gordon, senior investment strategist at Charles Schwab, commented: \u201cEverybody’s quite shocked at how large the downward revisions were for both May and June. The upside is that the unemployment rate did not spike meaningfully.\u201d<\/p>\n

This report subsequently boosted expectations for a September interest rate cut, with the CME’s FedWatch tool indicating an 80.0% probability. Trump has been pressuring Federal Reserve Chair Jerome Powell to lower rates for months, and now the conditions may be right.<\/p>\n

BeiChen Lin, senior investment strategist at Russell Investments, added that recent job growth has been largely confined to previously understaffed sectors such as healthcare and social assistance, noting: \u201cThe breadth of job creation has steadily declined in recent months.\u201d<\/p>\n

By 12:30 p.m. in New York, the Dow Jones Industrial Average had fallen 455 points, or 1.03 per cent, to 43,671, after a slight recovery from its opening lows. The S&P 500 had shed 80.74 points, or 1.27 percent, to 6,259, while the Nasdaq Composite was down 368.13 points, or 1.74 percent, at 20,755.<\/p>\n

Both the S&P 500 and the Nasdaq were on track for their worst single-day performance since 21 April.<\/p>\n

With reporting from Reuters<\/p>\n

Oliver O’Connell1 August 2025 17:39<\/p>\n

<\/a>Anti-Trump MeidasTouch dethrones mighty Joe Rogan as top podcast in US<\/p>\n

Brace yourselves, Joe Rogan<\/a> has been dethroned as America\u2019s number one podcaster on YouTube<\/a> by a staunchly anti-MAGA, \u201cpro-democracy\u201d show.<\/p>\n

Here\u2019s James Liddell<\/strong> with the details: <\/p>\n

Oliver O’Connell1 August 2025 17:21<\/p>\n

<\/a>Americans say US economy getting worse under Trump\u2019s leadership<\/p>\n

On Thursday night, Trump signed an executive order that sets new tariffs on U.S. trading partners that are due to go into effect on August 7. Canada is one of the countries hardest hit, facing an increased rate of 35 percent.<\/p>\n

However, while Trump has been gung-ho on threatening other nations with stiffer levies, it would seem voters are not so convinced it is the right approach. <\/p>\n

John Bowden <\/strong>reports from Washington, D.C.<\/p>\n

Oliver O’Connell1 August 2025 17:00<\/p>\n

<\/a>Trump told NBC new tariffs going ‘very well, very smooth’ hours before deadline<\/p>\n

Donald Trump declared his sweeping new import tariffs were progressing \u201cvery well, very smooth\u201d on Thursday night, asserting it was now \u201ctoo late\u201d for global trading partners to avoid the impending rates.<\/p>\n

Speaking to NBC News<\/a> just hours before his self-imposed midnight deadline for trade deals, he formalized the new tariff structure via executive order, which is set to take effect next week.<\/p>\n

However, he maintained an openness to future negotiations, stating: \u201cIt doesn\u2019t mean that somebody doesn\u2019t come along in four weeks and say we can make some kind of a deal.\u201d<\/p>\n

The executive order officially cemented agreements with key trading partners, including the European Union, Japan, South Korea, the United Kingdom, and the Philippines.<\/p>\n

For nations that failed to reach a deal, the order unilaterally set new rates, effective as of August 7. Switzerland, for instance, faces a higher-than-threatened 39 percent tariff, while Taiwan’s rate was set lower at 20 percent.<\/p>\n

Trump boasted of the substantial revenue already generated, citing Treasury Department figures of $26 billion in June alone, and predicted a far greater influx.<\/p>\n

\u201cWe will be taking in hundreds of billions of dollars, and very quickly,\u201d he claimed. When questioned about potential price spikes for imported goods, he dismissed concerns, retorting: \u201cThe only price that\u2019s spiked is the hundreds of billions of dollars coming in.\u201d<\/p>\n

He also indicated a willingness for further discussions with Canada, mentioning he might speak to Prime Minister Mark Carney later that evening, though no new deal would be struck before the deadline.<\/p>\n

Separately, Trump said he was unfamiliar with Brazilian President Luiz In\u00e1cio Lula da Silva\u2019s recent interview in The New York Times, which suggested Brazil would push back on the U.S. tariff program.<\/p>\n

Informed of its content, he responded: \u201cThat\u2019s OK. But he doesn\u2019t have to do business with the United States, which is fine with me.\u201d<\/p>\n

Oliver O’Connell1 August 2025 16:45<\/p>\n

<\/a>Watch: Former Treasury secretary says Trump’s tariffs make U.S. similar to Per\u00f3n’s Argentina<\/p>\n

Former Treasury Secretary Larry Summers says President Donald Trump\u2019s tariffs and economic chaos are shifting the global view of America.<\/p>\n

He argues that the zeitgeist around the U.S. is moving from that of a stable superpower to something closer to Juan Per\u00f3n\u2019s Argentina \u2014 protectionism, denying the independence of the central bank, fiscal irresponsibility, breakdown of boundaries between government and business, cronyism, authoritarianism, lack of respect for the judiciary \u2014 which Summers says, while sometimes popular, is \u201cextremely costly for society.\u201d<\/p>\n

Here\u2019s what he told the All-In Podcast: <\/p>\n

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