Tonight, devastation in central Texas after deadly flash flooding, research and rescue operations

still underway. Then the president issues new tariff threats with a new deadline, rambling

financial markets and your investments. Plus, the Trump-Musk battle heats up again over

Musk's vow to create his own political party as the 11th hour gets underway on this Monday night.

Good evening once again. I am Stephanie Rule and it is day 169 of the Second Trump administration. We will have the latest on the floods down in Texas

and the ongoing rescue efforts just ahead. But we begin this evening's broadcast with the

administration's latest move to ramp up the trade war. This morning, President Trump sent letters,

letters threatening new higher tariff rates between 25% and 40% on imports from 14 different

countries, including some of our key allies, Japan and South Korea. That news meant all three

major stock indexes closed down. But considering that the president has yet to enforce any trade deadlines, remember,

that's why they call him the taco guy. Trump always chickens out, talks a big game, but doesn't

actually follow through. Given all of that, it's interesting that today's news triggered such a big

sell-off. This comes just days before his original July 9th deadline.

Now, August 1st is the new date for countries to lock in trade agreements with the United States,

or they will see these latest rates take effect. Well, tonight, the president made it all official in an executive order. And Treasury Secretary

Scott Bessent said that executive order has taken effect and it's already working.

When he said that there's a chance that countries could boomerang back to their April 2nd reciprocal tariff levels, we've had a lot of people

change their tune in terms of negotiations. So my mailbox was full last night with a lot of new

offers, a lot of new proposals. So it's going to be a busy couple of days.

But importantly, too, that President Trump has said that they would, the countries would not go back

to the reciprocal rate until August 1st.

A lot of new offers, a lot of new proposals, and absolutely no details to who those offers are from and what those proposals look like.

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