Hey, this is Bailey at the Porover.

And this is Zan at the Porover.

Happy Friday.

Just swinging by your headphones or car speakers or wherever you're listening from to let you know it's National Spider-Man Day and National Girlfriend Day.

If your name's Mary Jane, we hope you get an upside-down kiss today.

For everyone else, we're glad you're here, too. Now for the headlines. Today, we're talking

about President Trump's tariffs taking effect today. Say that five times fast. A massive earthquake

on Russia's coast, the Fed holding interest rates steady, and other top news for Friday, August 1st.

Stay informed while remaining focused on Christ with the pourover.

Here's your quote of the day.

God has promised forgiveness to your repentance, but he has not promised tomorrow to your procrastination.

St. Augustine. Let's get started with some espresso

shots. Today is Tariff Day 2.0. After a four-month pause, the quote, reciprocal

tariffs President Trump first announced on April 2nd and paused

shortly after are taking effect. This means the import tax on goods from many countries is jumping

from the 10% baseline to a higher number. Most are between 15 and 45%. So it's back to April 2nd,

except for all the exceptions. This week, the White House announced

a 90-day extension for Mexico, a 50% tariff on Brazil for its quote, which hunt against former

president Jair Bolsonaro, a 25% tariff, plus an unspecified penalty for buying Russian oil on India, a 50% tariff on copper,

and revoked the quote, de minimis exemption, which exempted packages worth under $800 from tariffs.

Uncle Sam has also signed eight trade deals since April, including the EU last week and South Korea yesterday.

Our hope is never contingent on an economic outcome. It's much more secure than that.

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