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Stock Markets Plunge as Trump Threatens Tariff Increases

7/7/2025

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Trump's Tariff Turmoil

Stock markets plunged amid uncertainty over new US tariffs slated for August 1, with President Trump hinting at increases of up to 70%. Adding to the turmoil, he signed a contentious budget bill that critics claim threatens social safety nets and expands executive power, igniting fears about the erosion of democratic values.

Right

Packer Analyzes America

In "Last Best Hope," George Packer explores four political identities shaping America: Young America, Smart America, Free America, and Real America. He highlights a growing radicalization among Young and Real America, while noting a budding reconciliation between national-conservatives and free-market conservatives. Amid this turmoil, the Trump administration seeks to reclaim institutional integrity against a backdrop of rising populism.

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Trump's Tariff Turmoil

Stock markets plunged amid uncertainty over new US tariffs slated for August 1, with President Trump hinting at increases of up to 70%. Adding to the turmoil, he signed a contentious budget bill that critics claim threatens social safety nets and expands executive power, igniting fears about the erosion of democratic values.

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