4.4 • 3K Ratings
🗓️ 8 July 2025
⏱️ 14 minutes
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0:00.0 | What are you buying today? |
0:07.0 | Bolly Fool Money starts now. |
0:20.5 | I'm on Chalkavalu, and I'm joined by two of my favorite fools, Matt Frankel and Jason Hall. |
0:26.4 | Today we're talking Amazon's Prime Day. It's more like a prime week at this point, the latest on Tesla and Elon Musk, and we'll make some bold predictions. |
0:35.7 | But first, let's update ourselves on tariffs. What's going on there, Matt? |
0:40.4 | Well, the tariff news seems to be changing so quickly. We're only recording this a few hours before |
0:44.6 | it's being published, and I'm kind of worried, if I'm being honest. So the president announced |
0:48.4 | the whole new round of tariffs yesterday. It's set to begin on August 1st for 14 countries, |
0:53.8 | and that includes Japan and South Korea, |
0:55.7 | which are our number four and six trading partners, actually. |
0:59.6 | Those both got 25% tariff rates. |
1:02.0 | Some of the announced rates were as high as 40%. |
1:04.3 | The president also said that the August 1st date is not set in stone. |
1:09.1 | He said it's, quote, firm, but not 100% firm. And I really think |
1:12.4 | this is more noise than news at this point. I mean, remember the initial liberation day tariff rates |
1:17.3 | with the thing that looked like the cheesecake factory menu? And then the pause that was announced |
1:22.3 | until July 9th. I mean, this might be an effective negotiation tactic to get better trade deals. And to be fair, |
1:29.7 | it looks like it might be. But until anything actually goes into effect and is actually |
1:34.8 | finalized and signed by both parties, it's kind of noise. But in other tariff news, there is |
1:39.9 | a good possibility that we're going to see in a European Union trade deal soon. And each of those are, the countries in the union are kind of small trading partners. |
1:47.5 | But collectively, they actually would make up our number one trading partner in terms of both |
1:51.6 | imports and the trade deficit we have. |
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