Markets Fall on Trump’s Tariff Bonanza

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 1 August 2025

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

A.M. Edition for Aug 1. As the deadline for many countries to clinch trade agreements expires, President Trump moves to hike levies on scores of countries, while delaying their implementation until Aug 7. WSJ finance editor Alex Frangos unpacks the ins and outs of this new trade order. Plus, WSJ data reporter Inti Pacheco takes a stroll down main street to explain how tariffs are affecting American businesses and consumers. And, Ray Dalio sells his remaining stake in Bridgewater, the hedge fund that made him a billionaire. Azhar Sukri hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Race the rudder, raise the sails, raise the sales!
0:05.0	Captain, an unidentified ship approaching. Over.
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0:13.0	Reach sales professionals, not professional sailors.
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0:33.6	President Trump raises tariffs on virtually every trading partner, including 35% on Canada.
0:41.3	About 85% of the goods that Canada exports to the US are covered by that accord.
0:46.1	So 35% on 15% of trade, it's still a much better deal than any of the other partners got.
0:52.1	Right now, Canada is trying to preserve that USMCA exemption.
0:56.5	What they're trying to do is limit damage to key sectors. But in a sign of relief, levies won't
1:01.9	begin until August the 7th. We look at what this all means for countries, consumers, and the markets.
1:08.9	It's Friday, August 1st. I'm Azhar Sukary for the Wall Street Journal.
1:13.3	Here is the AM edition of What's News, the top headlines and business stories moving your world today.
1:25.3	President Trump has signed an executive order that significantly raises tariffs on virtually every U.S. trading partner,
1:33.8	with the new regime taking effect on August the 7th.
1:36.7	The big surprise was that he gave another week for this to be implemented.
1:41.4	That leaves a window open for further negotiation.
1:44.5	So the levels we see here might not be the final levels.
1:48.4	And even after August 7th, there might be further negotiations down the line.
1:52.6	The big, big thing, which happened earlier in the day on Thursday, was Mexico getting
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