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Consider This from NPR

Trump's tariffs are (still) coming

Consider This from NPR

NPR

Society & Culture, News, Daily News, News Commentary

4.15.3K Ratings

🗓️ 1 August 2025

⏱️ 11 minutes

🧾️ Download transcript

Summary

Thursday night, President Trump announced new tariff rates, and a new deadline. For weeks, the administration said that new, tougher tariffs would go into effect August 1 — instead, most countries won't see the new rates kick in for at least a week.

Meanwhile, new numbers from the Labor Department show job growth slowed sharply this spring, as President Trump's earlier, worldwide tariffs started to bite. Shortly after their release, Trump said he was firing the head of the government agency that produced that report.

White House correspondent Danielle Kurtzleben and economic correspondent Scott Horsley discuss the consequences of Trump's tariffs so far and going forward.

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Transcript

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0:00.0

So today, Friday, was the day, the day that larger tariffs on imports from a long list of countries were going to kick in.

0:08.8

The Trump administration was clear about that as late as Thursday afternoon.

0:13.0

Here's press secretary Caroline Levitt.

0:15.1

Yes, tomorrow, August 1st, the reciprocal rates will be going into effect.

0:19.1

On Wednesday, there was this social media post from President Trump.

0:22.9

The August 1st deadline is the August 1st deadline.

0:26.8

It stands strong and will not be extended.

0:29.8

And then it was extended.

0:31.8

Thursday night, the president signed an executive order setting new tariff rates that will go into effect August 7th. So businesses are

0:39.9

still bracing for more punishing import taxes first announced back in April to potentially take effect.

0:46.5

Here's how Shelby Somerville explains the predicament. She's with Greater Louisville, Inc., the

0:51.0

Regional Chamber of Commerce. A lot of the proposed or talked about tariffs would have implications on a lot of the businesses

0:58.7

in our area, but what's even harder than adapting to that sort of policy change or tariff

1:05.3

is really the uncertainty.

1:07.0

So businesses can adapt to taxes and tariffs, but what they can adapt to is something that's changing, you know, every 90 days or every other day.

1:15.7

The tariffs are supposed to help U.S. manufacturers by making their products more price competitive with foreign imports.

1:23.3

Ethan Karp is the CEO of Magnet.

1:25.6

That's a company that advises manufacturers in Northeast Ohio.

1:29.4

And he says some of them are excited.

1:32.1

Some of them have gotten new business and they're very optimistic.

1:35.2

Some of them have lost business because it's export and the exports were being taxed.

1:39.6

And most of them are in the tire kicker stage.

...

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