tariffs, prices and inflation
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Financial news has been breaking fast and furious, thanks to President Trump. Over the past week, he has: Escalated threats of sharply higher tariffs on major trading partners that don’t cut trade deals with him by the end of the month.
US stocks end mixed after June inflation data and mixed earnings pressured the Dow and S&P 500. Nvidia powers Nasdaq to record high.
The new duties will add to existing rates making the effective tariff 160%, according to American Active Anode Material Producers.
The Indian rupee is set to open weaker on Wednesday after June U.S. inflation data hinted at tariff-driven price pressures, prompting markets to scale back bets of Federal Reserve rate cuts and pushing the dollar and U.
Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.
President Donald Trump is doubling down on tariffs as inflation rises. He says he'll impose tariffs on pharmaceuticals at the end of the month.